I want to know the impact of GST on real estate on buying apartments.. Earlier, only service tax was used to be charged on the service portion of the total apartment cost in case of completion certificate obtained from appropriate authority..
Do we have any such provision under GST also?? What are the other impacts, cost or benefits on purchasing apartments from the buyers point of view...??
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GST on real estate
Replies (5)
GST will not be charged on properties whose completion certificate obtained........
Only for under construction properties, GST will be charged @ 12% on registered agreement value......
hi dhirajlal sir
can you please let me know this 12% is excluding stamp duty means will it become 17-18%...please confirm
can you please let me know this 12% is excluding stamp duty means will it become 17-18%...please confirm
Don't mix up please..........
GST will be collected by builder @ 12% (for Government)
Stamp duty & registration By sub-registrar............ 5 to 6 %
Brokerage, legal fees, etc...........
When all added up cost of flat would increase by about 20 to 22%..
thank you sir
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