Query on GST on Flat Registration
Dear All, I have paid 70% of Flat amount before 1st Jul 2017. As I had issue with the builder I delayed remaining payment and registration. I want to know, if I have to register the flat, do I have to pay GST (stamp duty/registration) on entire Flat amount? OR on the pending amount that is due? If anyone can point me to government notification or circular in this regard. Kindly Help. more
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Please note that Stamp duty and Registration charges are not part of GST and have to be paid by you. more
Oct 30
Many builders had given option to buyer to pay total flat value before 01/07/17, so that 12% GST could be saved & some builder also had the registration done by getting CC, though there were some pending construction, based on trust on builders. more
Oct 30
Dear Rizwan, GST @ 12% is payable only on the Balance 30% of the Flat Amount that is payable after 1st July 2017. more
Oct 30
GST means that the Benefits of GST paid for purchases should be deducted.
Earlier the Service Tax was charged @ 4.5 % since the Taxes for purchase of Goods was not offset by the Builder.
In view of the new GST scheme the adjustment of 7.5 % needs to be given to the Buyer.
New Purchases becomes a question mark where the Price of the Flat should not consider the Taxes as Raw Material Costs.
However, to prove the Market Value and Taxes becomes debateable
This should not be for Those who bought before the GST
Central Government should clarify to the Truth and ensure benefits of GST be given to the Buyers. more
Earlier the Service Tax was charged @ 4.5 % since the Taxes for purchase of Goods was not offset by the Builder.
In view of the new GST scheme the adjustment of 7.5 % needs to be given to the Buyer.
New Purchases becomes a question mark where the Price of the Flat should not consider the Taxes as Raw Material Costs.
However, to prove the Market Value and Taxes becomes debateable
This should not be for Those who bought before the GST
Central Government should clarify to the Truth and ensure benefits of GST be given to the Buyers. more
Oct 30
