Gst on purchase of flat

As such this is the major problem of all the customers who have purchased under-construction properties and affected by GST migration.

Goverment has given ITC credit to business people for the stock at hand as on the the appointed date......... but has blindly forgotten the issue of COMMON MAN.

No doubt.........The government made its intention clear by introducing an anti-profiteering clause in the GST law to ensure that a commensurate cut in the prices on account of a reduced tax rate, or the benefit of higher input tax credit, is passed on to the consumer. It also proposed to set up an authority to monitor such instances of profiteering, but not clarified about the burning issue......... mainly because of non representation by any organization.........

I think, very soon government will notify some solution to the issue....... but till then a solution ....... to convey your builder to accept the service tax amount from your end which may be proportionately reduced from the payment schedule as and when due as per agreement..........