Gst on real estate property
This query is : Resolved
26 November 2017
I had booked a under construction flat in Nov 2016. I had made approx 78% till June 2017 & paid service tax to builder on that amount only. But after implementation of GST from July 2017 builder asking me to make payment of balance 22% along with the GST on it. My query is if I had booked flat prior to GST & also done the registration in Nov 2016 only then should I pay GST on balance 22% amount? If yes, then how much it should be?
Please reply...
P.S. flat is still under construction. Possession promised to be given in May 2018
Please reply...
P.S. flat is still under construction. Possession promised to be given in May 2018
27 November 2017
Yes 12% GST payable on 22% balance payment. Input credit has to be passed on in price by reducing the price.
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