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GST in Housing Investment
If a person has purchased a flat and part amount is paid. Balance amount is payable after 01-Jul-17 when the GST gets applied. Whether the buyer will be required to pay GST on the amounts if it has been specifically said that GST will apply on delivery of goods? And in this case the possession is due.
Replies (4)
Cost of Supply is limited to the amount paid/payable, not over total cost of the flat.
Sir, does that mean the balance amounts would be liable for GST as and when they are paid ?
Otherwise it will be double taxation.........
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