498 Points
Joined June 2017
Under GST construction of complex,building, civil structure intended for sell to buyer is liable to 12% GST witll availability of input tax credit. First your question with connection to payment of 12% GST on the remaining amount of 70%. yes, you will have to pay GST @ 12% on the balance amount as the provision says "The goods/services supplied after the appointed day in pursuance of a works contract entered into before to the appointed day shall be liable to GST".And yes the builder will be liable to pass on this benefit of credit and to ensure that sec 171 "anti proiteering measure" is prescribed by CGST act.