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Gst query in real estate

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Krishna

student

654 Points Posted on 11 June 2021

Good morning sir
one of my relative booked flat in fy19-20 now booking got cancelled
builder collected gst on advance
whether builder has to give refund along with gst
Sir if builder issued refund voucher where to show in gstr1 and gstr3b

Replies (3)

Quick Summary

If a property booking was cancelled and the builder collected GST on an advance payment without issuing an invoice, the builder should refund the GST amount along with the advance. If the builder issues a refund voucher, the buyer does not need to declare it in their GST returns.

CA Altamush Zafar

GST Consultant

15986 Points Posted on 11 June 2021

If it was advance and no invoice was issued then builder will give back your money along with gst collected.
If builder issues refund voucher you as a buyer will not have to show anywhere in your gst returns