• gst applicable on partial payment made before 1/7/2017

I booked a flat in december 2015 at a cost of 40 lac
i took a sbi homeloan
Before 1/7/2017 i paid 36 lac (inclusive of bank part)to the builder in different installment(,all payment done by cheque.)
after 1/7/2017 i have paid a sum of rs.1 lac.almost 80 % of the flat is complete.
The builder is demanding gst@12% on whole 40 lac
Iwant to know my gst liability before 1/7/2017.further what will be my gst liability after 1/7/2017.
kindly respond with relevent regulation and circulars
Asked 6 years ago in GST

Hi

Have you been issued invoices in relation to the payments which have been made before July? If the payments were according to the installment structure, Service Tax shall apply for payments before July.

Lakshita Bhandari
CA, Mumbai
5687 Answers
910 Consultations

5.0 on 5.0

Hi,

If you have made payment before July as per the installment structure, then GST is not applicable on that payment.

Please feel free to call/ revert in case you need additional clarity/ guidance.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

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