GST refund for cancellation of under construction flat

309 views 5 replies

Anand

10 Points Posted on 29 December 2023

Dear Sir,

I had purchase an under construction flat from a builder in June 2022. While purchasing the flat, I paid applicable GST as flat was under construction.

Now I have option to upgrade the flat into a bigger one from builder. Builder is advising me to cancel the old agreement and make a new agreement for the new flat. Only difference in price, he is requesting.

The building has recently received OC from the authorities and GST is not applicable for the new flat.

Query is :

1. Whether I can claim refund of paid GST post cancellation of the old agreement with the builder, as there is not transfer of goods / services.

2. If yes, what is the procedure to claim refund for this GST?

Thanks

Replies (5)

Sharath chandra

Accountant

1227 Points Posted on 29 December 2023

1. are you registered with gst ? what is the date of cancellation of agreement?

you can claim refund of gst.

we help in
getting the refund from the gst department wrt the cancelled flat. it's quite a lengthy process. please connect if you would like to take our services regarding the same.

Anand

10 Points Posted on 29 December 2023

Originally posted by : Sharath chandra
	1. are you registered with gst ? what is the date of cancellation of agreement? you can claim refund of gst. we help ingetting the refund from the gst department wrt the cancelled flat. it's quite a lengthy process. please connect if you would like to take our services regarding the same.

No. We are not registered with GST. WE haven't cancelled the agreement yet. Currently deliberating on cancellation. If at all, it will be Ja 24 i.e. < 2 years of registering the agreement with the builder