Hello CA,
In case of buying under construction property where 2 lakh of token amount is given to builder. When builder supposed to pay the GST of this amount before registration or after registration?
In one case builder was trying convey the customer that GST will be paid in advance for first payment schedule which does not sound a rule. Need guidance here.
Thanks
Actually the advance amount is booked against agreed price of the flat sale (an under-construction unit) and hence the GST is to be paid against the advance amount in next month (before filing relevant GST return).
GST to be paid on token money recieved as advance payment, under agreement entered into with customer for sale of under construction apt/flat
CAclubindia
