I want to purchase one flat of Rs 30 lakhs from the builder. The builder told that I have to pay 1.35 lakhs service tax @ 4.5% (Service tax @ 15% on 25% of the amount) and after 1 month of registry he will give possession.
I wanted to know that, in my case how much tax I have to pay after July 1, 2017. The GST will be applicable @ 12% and the builder is supposed to give the tax credit whatever he earned.
As the flat is almost ready thus the builder did not get any tax credit in GST, so I have to pay GST @ 12% GST at the total 30 lakhs amount.
CAclubindia
