- In case of 5%, ITC is not available to the builder therefore he is asking you to go for registration now. Yes it is better to go after 01.04.2019.
Housing related
I have made an agreement for borrowing a flat last year and applied for loan and got it sanctioned this month . I have payed 9 lakhs and have to pay 31 lakhs remaining . My builder is asking me to do registration before April 1st but as per new policy gst is 5% from April 1st . So should I wait till April 1st it should I pay now as the builder is saying I’m applicable for 12% gst only even after April 1st
Asked 5 years ago in GST
Thanks for the reply but my query is I’m eligible for 5% or not as I heard from some people that as I have done agreement and paid some amount before April I should pay 12% even after April 1st . Is it true ?
Asked 5 years ago
If you paid any amount to builder before 1 April even if it's ₹1 then you will be liable to pay GST@12%.
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Thank you
Rate is linked to payment date.
Hi
5% GST shall be applicable for all the payments due/made after 1.4.19.
If the installments were due in March and the invoices were raised by the builder, 12% shall only apply.
No. If no invoice has been raised or due before April, 12% shall not apply. You will be eligible for the reduced rate of 5%.
Dear Sir,
Hope you are doing well !!
You should wait till 1st April.
No, you will be eligible for the reduced rate i.e. 5%.
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