the leviability of Goods and Services Tax (“GST”) on certain payments which are made or are to be made with respect to purchase and part payment made 30.06.2017 and is liable to pay on balance after 1.07.2017. In case of the Agreement for Sale dated 27.6.2017 and the Occupancy Certificate dated 20.7.2017 issued by the Brihanmumbai Municipal Corporation (“BMC”) ..
If occupancy certificate is issued after July, the. You have to pay GST on the balance amount.
Assuming you have already received invoices for the earlier payments.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
If all the relevant taxes pre-GST have duly been paid, you need not pay GST on the amounts paid before GST implementation.
Also, with changes in Maharashtra VAT, buyers making payments before June-end for underconstruction properties will be charged 1% VAT.
Hello,
If the property is under construction and any part payment is made after 30th June 2017, then GST shall be applicable.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Hey,
GST will be payable on any amount paid after 30th June 2017 for an under construction property.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LL.B
