My contractor quoted 18% . Contract signed Feb.19. Possession Not taken yet. How will the GST under old and new work for this ? 5%, 12% or 18%? will it be proportionate as and when the construction progressed? or at the time completion and handing over? more
I find anomaly with well know Bangalore builder claiming GST from buyers , without raising proper performance bills for each transaction. They just claim payment on statement of accounts which is not correct in my opinion. I have sought clarifications from GST authority. As a buyer it is our prerogative to know the tax paid reaches the government. more
If the project is an ongoing project as on 01-04-19, and the Builder has not exercised the option of availing the lesser rate of GST, the applicable GST rate is 18%. This is applicable for all payments made to the builder and the Builder has to provide a GST Invoice for every payment received. In case the Builder exercises the option of availing the lower rate of GST , the applicable rate is 1 % without availing ITC for properties having sale price of less than Rs. 45 lakhs (affordable housing) and 5% without availing ITC for properties having sale price of mire than Rs.45 lakhs. more
In my opinion the prevailing rate at the time of raising Final Bill along with Handing over and taking over possession of property the sale is complete and will attract GST more
My cousin’s friend runs a local bakery in Goa. He accepts only CASH. No UPI/CC/Debit Card-- nothing! Logic: if he accepts anything in 'white', he will pay around...
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this is...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...
What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...
By Sunita Varghese
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