Real Estate

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15 Points Posted on 29 October 2020
My client purchase a flat and register ed in 2018
Now the promoter claiming gst @ 12% on sale value
is it legitimate?
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On 29 October 2020 at 23:35 Report
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Quick Summary
A client purchased a flat and registered it in 2018, but the promoter is now claiming GST at 12% on the sale value. The question is whether this claim is legitimate. Generally, GST applies to properties purchased under construction, not those already completed. Further clarification is needed regarding the completion certificate and how the promoter's GST claim was communicated.

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Tax consultant
5895 Points Posted on 29 October 2020
If you purchase a property after full construction or say it's completion then no gst
but if you purchase a property under construction or say under construction property purchase then there is GST
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On 29 October 2020 at 23:50
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Profession
28261 Points Posted on 30 October 2020
Ashoke



there are several other rules....
completion certificate received or not.?
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On 30 October 2020 at 07:17
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Tax Consultant & Practitioner
6195 Points Posted on 31 October 2020
Originally posted by : Ashoke Bose
My client purchase a flat and register ed in 2018Now the promoter claiming gst @ 12% on sale valueis it legitimate?

How come you know that builder or say promoter is claiming gst that too at a single rate of 12%.

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On 31 October 2020 at 11:10
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Tax Consultant & Practitioner
6195 Points Posted on 31 October 2020

I believe you have mistaken his outward supply shown in Ur 2a as his claim. Kindly confirm 

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On 31 October 2020 at 11:11

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