There is no percentage as 7% in GST it could either be 12% if in old scheme or 5% in new scheme.
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GST percentage on landlord share apartment
Hi I brought a flat which is a land lord share and Construction is in progress by builder , do I need to pay GST in this case ? If yes , what is the percentage ? Landlord is asking for 7 % to be paid on his name , is this right percentage ? I had seen that 5% is what with revised GST rules . pls confirm .
Asked 4 years ago in GST
- No GST is payable by you as the agreement is with the landlord and not builder. 5% rate is for the builder.
- Builder will charge GST to landlord on construction cost.
Hi,
No, it is not right percentage.
Also, you are not liable to pay GST for the same.
Hello,
There is no rate of 7% GST.
Regards,
CA Hunny Badlani
GST will be applicable. 5% rate will be when builder is not claiming credit. If builder claims credit he will charge 12% rate in case the cost of project is more than 45 lacs.
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