Hello there
we as a builder recieved 50 lakhs from an buyer in advance for sale of flat
whether it is chargeable to service tax
: amt rec in may 17
If agreement was made in May,,, you have to pay ST...
But if registered after July, 2017 GST will be applicable as for under construction property.
Whether TDS was deducted by purchaser............ or every thing ...........
That means time of supply as May, 2017. So ST liability will arise and not GST....... (for the amount received in May)
If agreement was made in May,,, you have to pay ST... But if registered after July, 2017 GST will be applicable as for under construction property.
CAclubindia
