Results for #gst
Taxes & Duties
#gst#property#oc
Does a purchaser need to pay GST while puchasing a property in a building with OC?
Does a purchaser need to pay GST while puchasing a property in a building with OC?
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Answered on November 08, 2017
GST is levied on amount payable prior to the issuance of completion certificate. In case of supply of duly constructed property, no GST is payable.
Taxes & Duties
#construction#property#mumbai#allotted#builder
If I buy an under construction property in Mumbai which was earlier allotted by the builder to the land owner, through a tripatriate agreement with the land owner and the builder, is VAT payable on this transaction? What would be the GST implications?
If I buy an under construction property in Mumbai which was earlier allotted by the builder to the land owner, through a tripatriate agreement with the land owner and the builder, is VAT payable on this transaction? What would be the GST implications?
Answered on November 08, 2017
VAT would be payable by the builder on flats allotted to land owners. Subsequently when the land owner sells flats to third party, no VAT would be paybable by the land owner on such subsequent sale.
Construction of a complex, building, civil structure etc intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certi... (View more)
Construction of a complex, building, civil structure etc intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certi... (View more)
Society Matters
#gst#taxes#maintenance#society
How is the introduction of GST going to affect my maintenance charges?
How is the introduction of GST going to affect my maintenance charges?
Answered on November 08, 2017
We would suggest you to check this detailed post here: How will GST affect Homeowners and Housing Societies?
Answered on November 08, 2017
This is a very generic question. However, it would depend upon the facts of each case. Under the VAT regime, many States had introduced composition scheme with tax rates as low as 1%, without Input Tax Credit (ITC). There is no such composition scheme under the GST regime. At the same time, builders would be eligible to claim ITC on inputs/input services used in the execution of works contract...
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Taxes & Duties
#tax#cement#gst
In the recent changes made to GST rates, has the GST for Cement decreased ?
In the recent changes made to GST rates, has the GST for Cement decreased ?
Dhvanil Vakharia,Design Engineer
12 Answered
Answered on November 17, 2017
Yes. GST for Cement has been reduced. The GST on cement originally was 28%.
Now, the GST for Portland Cement, Aluminious Cement, Slag Cement, Super Sulphate Cement and Similar Hydraulic Cements have been reduced from 28% to 18%.
