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Gst on flat booked in feb 2018
i booked a flat in feb 2018 and my bank disbursed the loan of 11lkh till march 2019. the builder is denying to pass input tax credit although the property was under construction at the time of booking. please suggest how to handle it, or what will be the effective rate of gst 8 or 1
Replies (5)
Quick Summary
Sir the Builder / Promoter opted for New Tax Regime or is he continuing with the Old Tax Regime of Real Estate Sector ???
He is saying to pay 8% although when i ask him that whether he have opted for one time option he say they have not submitted any option form, so my loan was disbursed prior to 1st april 2019 so what will be the effective rate of gst in both case whether the promoter have opted for old or new
When he has not opted for the New Scheme then , it's deemed that he continues with Old scheme.
Yes he is correct the effective rate for affordable house is 8%
Yes he is correct the effective rate for affordable house is 8%
Still confused , what will be effective gst rate on loan amt disbushed to builder after 1st april 19
dear ajjan tawde
"there is no gst on loan"
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