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purchase a new apartment .how gst is ?

13 August 2018

while purchasing a new apartment from a registered builder how much percentage the GST ? At what ratio the builder will suppose to give back the input to us?

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5 Replies

JAI BHOLA (504 Points)
Replied 14 August 2018

it's 12% , but kindly elaborate your query : are you running a business of buying and selling of property ? or what ?

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viswanath chunduri (38 Points)
Replied 14 August 2018

i am not doing such type of business.i am buying a new apartment (flat) for my recidence only

JAI BHOLA (504 Points)
Replied 14 August 2018

then you won't be getting any input as inputs are available for purchase of goods or services for furtherance of business and you aren't doing any such business .

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viswanath chunduri (38 Points)
Replied 15 August 2018

thanks bhola I can understand now

Drake (Drakus) (24 Points)
Replied 25 December 2020

Thank you for your helpful information. My friend had the same question and asked me to find some answers to it. So thank you for your answers. I myself have been living in Egypt for several years in a very nice apartment thanks to these guys https://broker.com.eg/apartments-for-sale-alexandria/ who were able to quickly and efficiently find the apartment I wanted. I also thought about buying real estate in the United States to rent it out and get income from it. I figured that in 3-4 years I will cover the full cost of the apartment and start to receive a net income.