GST on real estate
This query is : Resolved
13 September 2017
I bought a new flat in Surat, agreement was made prior to 1st july ie before gst implementation, and down payment was as well paid at that time, 95% of building work was completed at that time, loan for the same was sanctioned on 16th July,
Now the builder is demanding extra money for Gst....what are the implications....??
Need an expert advice...should we laible to pay gst or it is the duty of builder...??
13 September 2017
You need to pay GST 12% but input tax credit he is taking on input has to be passed on to you. If he is not passing on the credit taken you may lodge complaint with GST authority.
13 September 2017
Dear sir, the flat is not meant to be used for business purpose, it is only for the residential purpose only, so we can not claim input tax credit.
13 September 2017
You can't claim but your seller has to claim and pass it on to you.
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