i do agree. i need a clarification- builders already allotted flats before GST , WILL THEY WILL COME UNDER GST? more
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Oct 31
Houses completed or handed over before 01/07 are not covered by GST. Indirect taxes' real incidence on housing remains unchanged before or after GST, whether purchased during construction or after completion as ready to move in house/apartment. Anyone who has doubt can get it computed from a cost accountant. more
Jul 26
GST applies to all, without prejudice. There are some developers who anticipated tax law changes and attempted to collect total tax liability from buyers, from start of construction till possession, in lump sum, using a flimsy case from elsewhere. However, the plot backfired on the developers, as buyers refused to pay, in mass. Best is to check the rules very carefully yourself and with guidance from a separate lawyer. more
Jul 26
handing over flats after issue of completion certificate comes neither under goods or services as per Schedule-III of the CGST Act, 2017 more
Jul 26
Yes builders are covered under GST. For more clarification please write the actual facts or doubts in your mind. more
Jul 26