GST

6 years ago

Hi All,

I have booked ready to move (project is under construction) flat in panchsheel green phase ii at noida extension on 25 Jun 2017 and paid 30% down payment. Also paid ST 4.5 % to builder. Possession date till 30 june 2018. But no OC is issued till yet and no demand has raised against payment.

Now my question is
1. I am going to pay remaining amount to bulider, If builder get Completion certificate in May 2018, Do I need to pay 12% GST on it or zero . As bulider is saying to pay 6percent GST before OC has issue. N after 12percent will have to pay. Is builder demand right.?

Could you please help me on it.

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Deepak Yashwantrao Bade

Responded 5 years ago

A.dear client in your case You have to perform your part of the agreement as agreed by you & builder .It is better to consult a Property Lawyer he will guide & help you, as the remaining part of contact is important & significant till you take possession & occupation.

Helpful

Ambrose Leo

Responded 6 years ago

A.You have to act as per the terms of the agreement between you and the builder.Regarding the part payment of ST now GST are applicable as per the Tax rate prevailing at the time of final payment.You have paid ST, Now GST applicable at the full & final payment total tax liability would be worked as per prevailing rates and making provisions for tax already paid. It is better to consult a Property Lawyer who will guide & help you till final possession & occupation.

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Ambrose Leo

Responded 6 years ago

A.You have to take action as per the terms & conditions of booking and taxes as applicable.You have to perform your part of the agreement as agreed by you & builder .It is better to consult a Property Lawyer he will guide & help you, as the remaining part of contact is important & significant till you take possession & occupation.

Helpful

Johnson Thangiah

Responded 6 years ago

A.Sir,
If the agreement between you and builder before the GST launching period you need not pay the tax.

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Bhawna Gupta

Replied 6 years ago

Thank you sir, but how we convince the builder regarding tax rate @4.5% . Is there any written provision under the property act

Shivaleela Gujare

Responded 6 years ago

A.Yes applicable

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