Hi Ankit,
The amount should ideally be paid by builder. Please get the same clarified from builder in written.
Please feel free to call/ revert in case you need more clarity
Thanks and regards
Abhishek Dugar
CA CS B.Com
Who will provide GST benefit to buyers builder or government and how
Hi, I have recently booked a flat in Noida extension and wanted to know that if government approved my name under PM awas yojna then how i will get benefit of GST Currently builder is charging 12% GST in all part payments and then after 2-3 months when my case will be approved under PM aawas yojna then it has to be 8% Example: Total cost of flat - 1L + 12% GST (GST amt INR 12,000) Advance payment before PM aawas yojna approval 70% means to builder - 70 thousand, GST INR 8400 (GST @ 12% 8400) In above case I have paid 70% flat cost @ 12 % GST and later i got approval of PM yojna then ideally GST that i need to pay is INR 5600 (@8% of 70% cost) then how i will get INR 2800 back (4% benefit) Who will give me this amount back (4% benefit of amount that i have already paid) - Builder or GOV and in which mode. Thank you so much in advance. Ankit Nirwal #[deleted]
Asked 6 years ago in GST
The builder is supposed to pay back the differential amount to you.
Regards,
Nikhil
Ideally builder should refund you the difference amount. Builder collects and pays to the govt., therefore only builder is eligible to claim refund from the govt.
Hi Ankit
The GST difference amount shall be refunded to you by the builder to you as the builder will receive the refund from the government.
You should get the amount refunded from builder since he will get the same from government.
Thank you so much for your response it's very useful for me Basis on the info provided by you I have asked my builder that this amount should be refunded/adjusted by builder only. He said that they have not received any official order from concern department (Government) yet. So at this moment they not be able to give me anything in written. Please help me to understand: 1. There must be some document released by concerned authorities which depicts that builder will get this amount back from government if buyers call in this category (PM awas yojna) – please share the same 2. Could you please let us me know how builder will get this amount back from GOV. 3. If builder is denying to give me the same in written – then what should I do. Thank you Ankit Nirwal
Asked 6 years ago
Around 10 days back i have asked follow-up question but no not received any reply from Taxfull even i have send several emails on feedback link - but no revert, now i am selecting paid option and hope you guys will reply this time Exp. of first time was excellent but now it's worst, if you don't reply on follow-up questions then please don't give this options to client - hope someone work on my feedback this time. Anyways below is my follow-up question that i asked earlier also: Basis on the info provided by you I have asked my builder that this amount should be refunded/adjusted by builder only. He said that they have not received any official order from concern department (Government) yet. So at this moment they not be able to give me anything in written. Please help me to understand: 1. There must be some document released by concerned authorities which depicts that builder will get this amount back from government if buyers call in this category (PM awas yojna) – please share the same 2. Could you please let us me know when and how builder will get this amount back from GOV. 3. If builder is denying to give me the same in written – then what should I do. Thank You Ankit Nirwal
Asked 6 years ago
Dear Ankit,
Apologies for not responding you within time.
I think there is no such document issued by the authorities. After the approval, builder will revise the invoice with lesser GST rate and the difference will be transferred to his electronic credit ledger which he will transfer to you. I am not sure but this can be one of the way.
Second you can ask the builder to charge you lesser rate now and if the project will not be approved, he can raise the revised invoice and you will pay the difference with the interest.
Thanks
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