GST on Property
5 years ago
Dear sir, My name sachin kumar i booked flat in 2016. on 50-50 payment plan i give 50% payment with 4.5 service tax. and then builder demand me rest 50% payment on 30-jun-2017(means flat was ready before GST Rules applicable) but at that time i was not take Possession due to the completion certificate not given by the authority to the builder. builder was agree on that. so now he demand on jun-2018 50% payment with 12% GST. and i already give him and take Possession. but i want to know about is this GST calculation is right because he already complete the construction before 01-Jul-2017. please suggest me.
ARPIT BATRA
Responded 5 years ago
It will be better to take the help of a Real Estate Lawyer of the locality who is well versed in local laws and also the area,builders, etc he might be in better position to advise.But, GST can not be implemented with retrospective effect.
Shanti Ranjan Behera
Advocate
ROBERT D ROZARIO
Responded 5 years ago
GST is only applicable on payments made to a builder for providing the services of construction. GST is not applicable if the whole of the consideration for a property is paid after issuance of completion certificate by a competent authority or after its first occupancy, whichever is earlier. Hence if you are purchasing a property from a builder directly and if payments are made to the builder towards the property prior to occupation, GST would be payable on the amount paid.
Deepak Yashwantrao Bade
Responded 5 years ago
Please consult Chartered Accountant
Rajender Prasad
Responded 5 years ago
Rameshwar Dadhe
Responded 5 years ago
Anonymous
Replied 5 years ago
i already paid all the dues with GST. my question is that is this GSTis applicable or not?
Rameshwar Dadhe
Replied 5 years ago
When gst enforce . After that if u paid any amount. On that amount gst will be chargeable
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