GST for 85% completed house ?
Query (Issue) Started By: – Alle SaiPrakash Dated:- 30-12-2017 Last Reply Date:- 30-12-2017 Goods and Services Tax – GST
Got 3 Replies
GST
Dear All,
I have booked an independent house on 23rd June 2017, booking was with a society and builder .
I have paid 10 lac rupees as booking amount with Builder and Society on 23rd June 2017
Booking with Builder to construct independent house with 1050 sft build up area.
By the time of booking the house was completed 85%, and association is planned to register only plot on my name and the builder is going to construct the house.
Construction charge is ₹ 13,50,000/-
Still plot is not registered on my name.
Now association and Builder is asking to Pay GS
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of advance payment and GST is to be paid on the balance amount. This is as per Board's FAQ.
Reply By Alle SaiPrakash:
The Reply:
Thank you Sir,
Service tax is considered for 10 Lakhs which I paid as advance.
being I am new the rules for GST, I have one clarification.
Builder is completed 85% of construction at the time of booking ( before 1st July), he could have paid service tax for the material that he purchased and labor charges , I think he should not charged for complete constructed amount ?
Can you please clarify on this point ?
thanks,
Sai.
Reply By KASTURI SETHI:
The Reply:
Completion of 85 % is not relevant here. Date of advance received by the builder is relevant here. It is continuous supply. Moreover, since the ch
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