• 8% GST instead of 12% GST on purchase of under construction flat

After 26th jan 2018, If i am eligible for 8% GST under CLSS & PMAY , So after Registration Process should i pay 12% to builder or 8% GST Or Shall i pay Full 12% GST and i will get refund of 4% Afterward, What Does Gst Circular or Gst (gr) say or will i get penalty for paying 8% instead of 12% even though i'm applicable for it ?
Asked 6 months ago in GST from Thane, Maharashtra
payment made to builder after 25.01.2018 will be liable for GST @8% if the project of the builder is registered under PMAY with the central authorities. You need to pay GST @8% and not 12% subject to the conditions. You will not get any refund after paying GST @12%
Vivek Kumar Arora
CA, Delhi
1421 Answers
31 Consultations

5.0 on 5.0

Hi,

If the builder's project is registered under PMAY, then you will have to pay GST @8%  for the installments paid post 26 Jan 2018.

Further?, you want be liable for any penalties from GST authorities

Please feel free to call/ revert in case you need more clarity.

Thanks and regards
Abhishek Dugar
CA CS B.Com
Abhishek Dugar
CA, Mumbai
3456 Answers
156 Consultations

5.0 on 5.0

Website of hudco and nhb
Vivek Kumar Arora
CA, Delhi
1421 Answers
31 Consultations

5.0 on 5.0

If the builder's project is approved for the scheme, you need to pay 8% GST only for all payments for after 26th Jan 2018.

No penalties involved.

You can check the same with hudco.
Lakshita Bhandari
CA, Mumbai
2017 Answers
63 Consultations

5.0 on 5.0

Hi,

There is no concept of refund of 4% GST after reduction of the same.

GST shall be charged at 8% from the date of notification for all the projects which are eligible and registered under PMAY and for specified categories viz. EWS, LIG, MIG-1, MIG-2.

If the project is not registered under PMAY, GST shall be charged by builder @12% only.

To know about registration of the same, builder should better tell you.

Regards,
Sunny Thakral
CA, Delhi
224 Answers
5 Consultations

5.0 on 5.0

You can find it on HUDCO's website.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards
Abhishek Dugar
CA CS B.Com
Abhishek Dugar
CA, Mumbai
3456 Answers
156 Consultations

5.0 on 5.0

You can check on hudco website.
Lakshita Bhandari
CA, Mumbai
2017 Answers
63 Consultations

5.0 on 5.0

Ask the builder
Vivek Kumar Arora
CA, Delhi
1421 Answers
31 Consultations

5.0 on 5.0

Builder will assist you
Vivek Kumar Arora
CA, Delhi
1421 Answers
31 Consultations

5.0 on 5.0

As of now there is no online system of such checking. However, the projects are approved by National Housing Bank upon recommendation of State Level Nodal Agency (SLNA).

You may check the same through your SLNA for the same.
Sunny Thakral
CA, Delhi
224 Answers
5 Consultations

5.0 on 5.0

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