GST on balance consideration after Occupation Certificate is received

Since the flat was booked under construction and construction has been completed after GST implementation, GST shall have to be paid by you.

Hi,

Since you have booked the flat under construction and OC has been received post implementation of GST, you are liable to pay GST.

Entire consideration should be paid after receiving occupation certificate. In your case you paid 20% at the time of booking and remaining after OC is received therefore you are liable to pay GST.

Yes, you will be liable to pay GST since you booked an under construction property and the construction completion is post GST becoming effective.

Hope that clarifies.

Regards,

Nikhil.

As per the provision of law, if a person has even if the paid the advances before occupancy certificate, then on entire amount it has to pay GST, even though occupancy certificate is not executed

Yes you are liable to pay GST now on amount you paid after receiving Occupation certificate.

You are liable to pay GST as there is a "supply of goods or services" within the meaning of the GST Act.

12% is the rate that is applicable. However, if your apartment is coming within the meaning of affordable housing, the GST is now applicable @ 8%. You may read an interesting article on this issue at https://taxguru.in/goods-and-service-tax/clarification-enable-availing-8-gst-affordable-housing.html

Further, even if GST is charged @ 12%, there will be input credit that is available to the builder. You may negotiate with the builder to reduce the price by passing on the input credit to you at least partially. The builder may or may not agree for this but you may try to negotiate.