Gst on under construction apartment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2018
Sir,
I booked a flat in Bangalore in the month of April 2017 and paid Rs. 1200000/- advance and made an agmt with theDeveloper . The cost of the flat is arrived after considering VAT+ Service Tax (i,e. VAT-4%+ ST-4.50%).
Now under the GST Regime the Developer is collecting GST @12% from the buyers who have booked flats after July2017.
Now the developer is demanding the differential amount of tax from us for the balance instalement (i.e.12%-8.50%)
Whether I am liable to pay the differential tax ? please advice
I booked a flat in Bangalore in the month of April 2017 and paid Rs. 1200000/- advance and made an agmt with theDeveloper . The cost of the flat is arrived after considering VAT+ Service Tax (i,e. VAT-4%+ ST-4.50%).
Now under the GST Regime the Developer is collecting GST @12% from the buyers who have booked flats after July2017.
Now the developer is demanding the differential amount of tax from us for the balance instalement (i.e.12%-8.50%)
Whether I am liable to pay the differential tax ? please advice
11 August 2018
You are liable to pay the difference but he has to reduce ITC claim in the difference.
In GST regime ITC has to be passed on.
In GST regime ITC has to be passed on.
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