Advance maintenance charges on under construction flat

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Proprietor of AMIT & CO.
76 Points Posted on 17 March 2020
My query is that can builder charge gst @ 18% on advance maintenance charges for 2 years in current financial year .They will charge under SAC code 9954
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On 17 March 2020 at 20:31 Report
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This discussion clarifies whether builders can charge GST at 18% on advance maintenance charges for an under-construction flat, even for future financial years. The consensus is that GST is applicable on advance payments as they are considered a supply at the time of receipt of payment, according to the terms of service.

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Partner
1219 Points Posted on 17 March 2020
Yes it can be charged as the ToS would be receipt of payment
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On 17 March 2020 at 20:46
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Student
23693 Points Posted on 10 April 2020
Yes he can charge. GST is also applicable on Advance Payment. It is treated as SUPPLY.
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On 10 April 2020 at 20:38

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