I HAVE PAID AN ADVANCE FOR A FLAT IN THE MONTH OF DECEMBER 2017 NOW IN THE MONTH OF MAY THE BUILDER ASKING ME TO PAY 7% GST OTHER WISE ADVANCE WILL BE FOREFITTED PL. ADVISE
Yes, GST is payable on under construction projects. GST is not chargeable on completed projects and if you pay after completion certification is received.
In your case you need to pay GST on amount paid for under construction project.
Sign up to discuss taxation, accounting and finance topics with experts from all over India.Join Discussion