Hi All,
I have small query which is that suppose someone purchases a property (under construction) and gives an advance payment to the builder of X amount. Is the builder liable for a GST on that payment , if yes then whats the percentage ?
Regards
Garima
GST on Advance to builder or to any vendor is not applicable.
However, As the Property is being purchased before its construction, the GST shall be applicable, when the sale deed is executed and time of supply triggers.
O P Bagla & Co LLP
New Delhi
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BHUPINDER SHAH AND COMPANY
New Delhi
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