Gst for builders

Others 378 views 2 replies

Hi All,

As per new amendments in MVAT Law, all builders are required to pay VAT @ 1% on Advance receipts from customers.

In my case customers are  ready to pay entire amount of MVAT & ST in advanced it means they will pay flat cost in future but they are ready to pat MVAT & ST to avoid higher rate of GST in future, is this allowed?

Replies (2)
but flat costs after gst would reduce as the builders would get credit of the materials . as per my knowledge no such provision is there in gst as yet
not eligable without bu certification


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