I had made a sale agreement(Not sale DEED),of purchasing a 2bhk flat worth 27lakhs. Now,I did not ask him that whether this 27lakhs is including GST or not. Builder is about to give me sale deed as due to corona,court was closed and so there was a delay to provide me sale deed by the builder to me. Now,A)If 27lakhs includes GST,then,Will 27 lakhs would be mentioned on Sale deed or (27lakhs - GST charge)? B)Will I get seperate GST tax invoice or it will be there in sale deed itself? C)What all documents I need to collect from builder as I have done full payment to him apart from sale deed and GST tax invoice(If B) is right)?
What percent amount will I get charged on GST in buying Flat?
If the builder is selling the flat after receiving the OC then no question of GST arises.
However if sale agreement is made before receiving OC and some consideration also has been paid then GST would come into picture at the rate 1% if cost of flat is less than 45 lakhs and area is upto 640 Sq Ft in metro cities and 960 Sq Ft in non metro cities. In all other cases the GST Rate is 5%.
Did the builder had got completion certificate when you purchased the flat?
If yes then no GST, if no then either 5% or 12% GST depending on the regime that he chose.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement. You can even book phone consultation for further personal assistance.
Thank you.
- It seems that you paid to builder the entire consideration after builder gets OC therefore no GST is applicable in your case.
Dear Sir,
Hope you are doing well !!
GST is not applicable if the entire consideration is paid after the issue of the certificate of completion by a competent authority or after its first occupancy, whichever is earlier.
Hi
If you have purchased a flat for which completion certificate has been obtained, there would be no GST chargeable on such transaction.
Hi
No GST is applicable on completed or ready to sale properties only if the Completion Certificate has been issued
As you are buying after completion certificate no gst.
