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How to Charge GST on real-estate business
Suppose a Builder has started new project, which will complete in 2 years. Now my question is what will be his turnover during monthly GST filling and on what amount he will pay GST like mean Booking amount , advance received etc.
Replies (4)
As and when advance or installment/s received from the customers. Customer will pay the tax along with the installment.
Well, no GST on any sell contract made after receipt of 'Completion certificate'
Yes Fully Agree with Sh Dhirajlal ji
Advance is not included in defination of Aggregate Turnover
Advance is not included in defination of Aggregate Turnover
Pankaj Rawat Ji, Advance may be in form of installment then it will include in aggregate turnover or not. Some time some customers deposited advance lumsum amount and requested to builder for the adjustment in form of installment.
DEAR GAURAV DIXIT
EVEN ITS IN FORM OF INSTALLMENT IT WILL NOT INCLUDED IN AGREE GATE TURUNOVER
REFER DEFINITION OF AGGREGATE TURNOVER UNDER SECTION 2(6) OF CGST ACT
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