garima (Homemaker) (67 Points)
20 December 2018Hi All,
I have small query which is that suppose someone purchases a property (under construction) and gives an advance payment to the builder of X amount. Is the builder liable for a GST on that payment , if yes then whats the percentage ?
Regards
Garima
CA Vijeta Nathani
(Chartered Accountant)
(505 Points)
Replied 20 December 2018
GST on Advance to builder or to any vendor is not applicable.
However, As the Property is being purchased before its construction, the GST shall be applicable, when the sale deed is executed and time of supply triggers.
saurabh sawlani
(2157 Points)
Replied 20 December 2018
Pankaj Rawat
(GST Practitioner)
(55037 Points)
Replied 21 December 2018
CAclubindia
