sir , who will pay the GST for land owners flat in residential apartment .and the Seme finished Flat registration value is : rs. 24,50,000/- what is GST Value and who will pay to governament .pl clarify .
Is Land owners share of GST 12% or
GST will be paid by the builder for under construction flats or apartments. Ready to move flats or apartments with completion certificate are out of GST.
Builder will charge GST @ 12% on Rs 24.50 lacs in the invoice from the purchaser. Ultimately it is the consumer who has to bear the burden.
my agreement was done before GST means before jully-2017 , But registration takes place on November-2017 .during agreement/Registration my builder/owner orally intimated to me ,thre is No GST to me ,due to my falt is Owner share flat .But now insisting me pay the GST 12 % to the governament . Sir , who will pay the GST to the governament ? pl clarify
If you paid the installments before July 2017, there is no need to pay GST as service tax chargeable at that time. If you paid installments after July 2017 then liability was on builder to collect GST from you. If he failed to collect from you then it is not your default.
Hi,
GST will be applicable on all the installments paid on or after 1 July 2017.
Collection and payment of GST is the responsibility of the builder.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
GST shall be paid by you to the builder who shall then deposit it with the government. You will have to pay 12% GST to the builder on all installments paid after 1-7-2017 if the property was under construction.
Hi,
Please get the clarity. It seems you are getting some confusion here.
GST is not at all applicable on Land & Buildings till date as they are covered in Stamp Duty of State.
Further, whatever GST you are talking about is applicable on construction activities carried out by builders and contractors in nature of services of construction and supply of building material as part of that construction services.
As such, applicability of GST on Land Owner who is willing to sell his Land & Buildings without any construction activities are not covered under GST.
If the land owner provides construction activity/ services to the potential buyers, only then GST@12% is applicable only on construction component not on value of Land & Buildings.
I hope now you are clear on this.
Regards,
