Goods and Services Tax – Started By: – Jitender Kumar – Dated:- 9-8-2017 Last Replied Date:- 9-8-2017 – I am Jitender Kumar and stay in Bangalore, recently we have bought a flat in Bangalore on 29th May with the advance payment of 20% of total cost as booking amount. Builder has provided us payment slab with Service Tax as 4.9% which we have to pay every alternate month from August onward.Since GST is in place now builder is asking us to pay 12% GST on the pending slab though we have booked the flat before July itself rather than 4.9% earlier service tax. This is creating a burden of additional 4 lakhs on us.I believe that builder should not ask increased tax slab since we have booked before GST implementation. I am really confused now and
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the earlier practice of payment of VAT at the time of Registration) on 20% of the Advance amount that you have paid. With effect from 1st July under GST, Flat sales are taxed @ 12% effective rate, and GST is liable on 80% of your Flat value @ 12%. However Builders are given seamless credit in GST regime by allowing Input tax credit tax on all the purchases & services that has been received by him. As per Anti profiteer provisions of GST, he should pass on atleast 3-4% of tax reduction to the buyer. You can question him the same. He may get a discount/reduction of 4% GST. – Reply By Jitender Kumar – The Reply = Thansk Vamsi Krishna Information provided by you really helped me to have a discussion with my builder. Builder finally agreed o
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