In case of builder GST should be paid upon RECEIPT OF ADVANCE or on COMPLETION OF PROJECT/HANDING OVER POSSESSION ???
CA Naveen Kumar (PROPRIETOR) (61 Points)
21 February 2018In case of builder GST should be paid upon RECEIPT OF ADVANCE or on COMPLETION OF PROJECT/HANDING OVER POSSESSION ???
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161241 Points)
Replied 21 February 2018
Over each and every installments........
Nilesh
(a)
(121 Points)
Replied 21 February 2018
Then it is better to take loan from a bank till completion & then sell the flats after getting complection certificate as GST will be not applicable .
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161241 Points)
Replied 21 February 2018
Can do that....... but net effect will be loss on part of ITC over inputs and interest payment.....
Nilesh
(a)
(121 Points)
Replied 23 February 2018
Thank you Sir .One More Question
Whether Lucky draw scheme run by a partnership firm is taxable under GST or Exempt ?.if GST is applicable how it is applicable ? there are around 1000 members contributing 1000 per month for 12 months monthly prizes are distributed in cash & kind . expert advise is needed please help .
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