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Gst on construction/ purchase a house
DEAR SIR
I HAVE BOOKED A DUPLEX IN 2012 AND CONSTRICTION IS COMPLETED NOW APPROX 90%. MY TOTAL CONSIDERATION IS 36 LACS OUT OF THSI I HAVE PAID RS 18 LACS. NOW BALANCE IS 18. I HAVE ALREADY PAID SERVICE TAX 55620 IN 2012 BUT DUE TO DELY OF PRJECT FROM BUILDER DUPLECT WAS RAEDY / PLAESE SUGGECT ON GST APPILCABLE ON MY ABOVE QUEARY
Replies (1)
Yes, GST @ 12% would be levied on the balance payment.
But Goverment has already asked builders to pass on the ITC credit available under GST over to customers.......... If properly implemented there might be about 5% reduction in the levy, which may be available in any other form also, like reduction in price..........
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