- Sir we have done a registered construction agreement deed on 8/02/2019 for a consideration of 2500000 whereby gst was mentioned 12 percent in the deed and paid 1 percent registration fees of 25000+3000(gst) and 1 percent stamp duty 25000+3000(gst) so a total of 50000+6000( separate tax on gst where gst comes to (300000) as registration charges online.Advance was of 10 lakhs was given through cheque and balance amount 1200000 through by loan will be within march 2019 and 300000 at time of delivery is mentioned in agreement.The delivery is mentioned by 31 march 2019 in the deed but yet to be delivered.The government recently announced reduction in gst from 12 to 5 percent on 24/02/19 effective from April 1 2019.My question is if i am eligible to pay only 5 percent tax for the balance amount of 1200000 through bank loan for which payment was made on April 12 2019??
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Gst on under construction
Replies (1)
Depends upon your developer, whether he adopts new proposal or continues with old rates.
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