GST
What are the GST rates applicable on sale newly constructed flats. My builder is charging 12% CGST and 18% SGST for a sale flat in sector 77 of gurgaon. Is it correct? A part payment has been made before the GST regime and balance pmt. is to be made now. On what amoun should GST be charged? more
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Oct 31
Sale of a flat after getting the completion certificate from Municipal authority, is taxed GST@18% (CGST-9%., SGST-9%). But if the flat is booked and you are paying in installments or before completion of the building, then the builder has to charge GST @12% ( CGST-6% & SGST-6%). It all depends upon the way the construction agreement is entered into. more
Jun 02
Yes the builder is charging 12% on basic cost of the flat. But he is charging 18% on additional charges such as PLC, Club etc. Is it correct? more
Jun 15
What was the rate at which U were charged for the 1st installment Technically from your statement it appears that U started before July 2017 which means Builder charged U 4.5 % earlier n Now technically he should have charged on a lower value ---- your purchase price less 6.3% ... ie 93.7 % value @ 12 % .. Builders R taking double Taxes by charging 12 % n V needs to Fight since the Government is Not clarifying properly. Rule Says Charge 12 % but is saying indifferently to Reduce the Price to charge 12 % I am also fighting the builder n will C the Governments Reaction more
Jun 02
U have to write a Letter to the Builder to confirm that the Agreement was for Total Price inclusive of Sales Tax on the Bought out item.
Service Tax was extra @ 3.7% as on that date. Subsequently the Service Tax was increased to 4.5% n Today GST is applicable after deducting the Sales Tax which was a part of the Cost n included.
U have to sweet Talk the Builder as it is in their Interest to confirm that the Double Tax is not being taken by them - U use the language to love n Respect each other but also create fear in their mind of Government Action for not complying with the law
U should know the law
The Builder can not take Credit for Tax of the Flat not sold.
He is supposed to give The Benefit to the Client n Charge 12 %
In your case he should give U discount of upto 6.6 %
93.4 x 112 = 104.6 This is higher than 104.5
Ask your Builder to reply to your letter as u wish to ensure support him for Better action rather then get into trouble.
I expect the flat V R buying is likely to negotiate the reduction as he feels that the Tax element was not 6.6 % but less -
U have to persevere for yourself n society -
Good Luck
U can send me an email ID kpromode@yahoo.co.in n I could try to be of any help if feasible or call 8240993450 / 9331570114 more
Service Tax was extra @ 3.7% as on that date. Subsequently the Service Tax was increased to 4.5% n Today GST is applicable after deducting the Sales Tax which was a part of the Cost n included.
U have to sweet Talk the Builder as it is in their Interest to confirm that the Double Tax is not being taken by them - U use the language to love n Respect each other but also create fear in their mind of Government Action for not complying with the law
U should know the law
The Builder can not take Credit for Tax of the Flat not sold.
He is supposed to give The Benefit to the Client n Charge 12 %
In your case he should give U discount of upto 6.6 %
93.4 x 112 = 104.6 This is higher than 104.5
Ask your Builder to reply to your letter as u wish to ensure support him for Better action rather then get into trouble.
I expect the flat V R buying is likely to negotiate the reduction as he feels that the Tax element was not 6.6 % but less -
U have to persevere for yourself n society -
Good Luck
U can send me an email ID kpromode@yahoo.co.in n I could try to be of any help if feasible or call 8240993450 / 9331570114 more
Jun 14
