HI FRIENDS, I HV QUERIES ON FOLLOWING POINTS. PLEASE SUGGEST ON IT.
1) what is point of taxation in construction of building industry ???
2) How GST is calculated on under-construction flat and ready to sale flats??
3) How to treate advance received from customer ??
4) Whether registration fees nd stamp duty will be component of GST ??
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CALSULATION OF GST ON UNDER CONSTRUCTED FLATS
Replies (1)
1. Earlier of payment/advance receipt or bill raised.
2. No GST over CC received flat (rady to move)......... otherwise GST @ 12% charged over Under construction units with land cost.
3. Chargeable to GST
4. No
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