GST on under costruction project
This query is : Resolved
23 September 2019
I spend 20% of Purchase consideration for an under construction flat. The construction is near to complete and Completion Certificate (CC) will be issued within a month.
My question is the applicability of GST on the portion of my payment before CC and the portion of payment after getting CC.
My question is the applicability of GST on the portion of my payment before CC and the portion of payment after getting CC.
24 September 2019
Portion of payment before obtaining CC would be liable to GST whereas payment made after obtaining CC is not so liable
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24 September 2019
Thank you so much
One more question, if I cancel my booking, kindly enlighten me that the amount paid as advance including GST will be refunded in full or not?
One more question, if I cancel my booking, kindly enlighten me that the amount paid as advance including GST will be refunded in full or not?
27 September 2019
Yes the builder can issue a credit note and refund the amount of advance including GST.
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