Hi all, recently we purchased a semi-finished flat with Registration value 24,00,000 (Twenty four Lakhs)
Agreement value of 65,60,000/- ( 24,00,000 - Cost of Undivided share of land & Construction Cost + 41,60,000 for Completion of works).
Agreement on 17-03-2019.
Registration Date: 26-08-2019 .
Total amount paid - 60,00,000/- ( 5,00,000 in cheques upon agreement + 55,00,000 Bank Loan) + Unaccounted - 5,60,000 / -
The builder collected the GST of 12% on 60,00,000 - 7,20,000 ( Seven Lakh Twenty Thousand ), and no receipt provided. Is this correct? What is the actual rate of GST with these conditions?
CAclubindia
