GST for flat booked before April 2019
I have booked a flat under construction in Hyderabad in June 2018 with a promise it would be delivered by Sep 18. But the builder got OC only in April 2019. Out of 45 flats to this date only 16 have been booked or sold so far. Now when I am insisting for registration of sale deed they are demanding 12% GST, I am ready to pay the GST provided the issue a GST invoice,but they refuse . Their argument is the reciept the issued for the cheque payment mentions the tax amount.
My question is am I eligible to pay GST and if yes at what rate .? Next question should I pay GST element without invoice ? more
My question is am I eligible to pay GST and if yes at what rate .? Next question should I pay GST element without invoice ? more
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Levy of GST to end consumers of products is really draconian in the Indian scenario. For example, every citizens pay GST on all the products that they buy for self consumption, whereas they cannot claim any refund. Ultimately, again, Rob Paul to Pay Peter... by the Government. Another example, educational institutions, medical insurance, medical treatment, hospitality industry --- every where common citizens are paying GST, but what do they get in return? Besides, where is the accountability for the tax collected? Most of common man's hard earned money is eaten away by way of various taxes.... for misuse by the concerned governments - state or centre like erecting statues etc. In what way the statues are going to help the common tax paying man? Besides, the elected representatives in various government departments are enjoying the fruits of our labour. There must be drastic change in our tax system. Government is only telling ONE COUNTRY ONE TAX. Is this so? Especially the salaried person is paying multiple taxes out of the NET salary he gets after TDS. Please ponder... more
Jan 21
-ONCE A SALRIED PERSON IS TAXED THEN HE SHOULD NOT PAY ANY KIND OF TAX
-ALTERNATIVELY ABLOLISH I TAX more
-ALTERNATIVELY ABLOLISH I TAX more
Apr 12
Initially the rate was 12% which was reduced to 5% on a later date. In your case you can ask the builder in writing to confirm that his company is registered under RERA and has obtained GST No., which is a must to recover the tax from the consumers/customers. If not done then you will have a fit case to take up with the concerned government departments lodging a complaint against the builder. more
Dec 30
For Under construction Projects the GST is applicable @5%. Pl. Observe outcome of meeting: "Relief for home buyers as GST Council announces rate cut for real estate The 33rd reconvened meeting of the Goods and Services Tax (GST) Council on Sunday lowered the tax rate for under-construction housing to five per cent (without input tax credit) from the present effective rate of 12 per cent (after one-third abatement of land). For affordable housing, the GST rate was reduced to one per cent from eight per cent. Addressing the media, Union Finance Minister Arun Jaitley said, “We have adopted twin definition of affordable housing. One, on the basis of carpet area and another, on the basis of cost. In metro cities, a 60 sq metre carpet area and Rs 45 lakh apartment will fall under affordable housing. In non-metro areas, it will be 90 sq metre carpet area and Rs 45 lakh apartment. This will come into effect from April 1.” Though the above is cristal clear, the fact remained that the Builder developers are charging @12% even today and Authorities are unable to take any action/s. more
Dec 30
after OC is issued, builder cannot , legall, demand GST... u ask them to put GST demand in writing and in same also ask them to confirm that OC has been received... most likely, they will not give in one document and issue two seperate document.. this would indicate dishonest intention. if u had booked in 2018, and if agreement was signed, then during construction process, they would have raised progressive payment demand via bills and there gst would have been demanded n u r liable to pay . but as u say, they have to make commitment to pass on that gst to government after recovering it from u more
Dec 27
