17 July 2023
SIR I AM STAYING AT BARRACKPUR NEAR KOLKATA, WEST BENGAL I HAVE BOOK 1 FLAT UNDER CONSTRUCTION WHICH WILL COST AROUND 60 LAKH. 1) BUILDER SAYS I HAVE TO PAY 5 % GST AND I AM READY TO PAY AND HE SAYS I SHOULD NOT DEDUCT 1 % TDS 2 ) BUT WHEN SEARCHED ON INTERNET IT SHOWS THAT WHILE PAYING TO BUILDER'S I SHOULD DEDUCT 1% TDS AND PAY TO BUILDER. MY QUESTION IS -- MY PROPERTY IS MORE THEN 50 LAKH AND UNDER CONSTRUCTION SO I SHOULD DEDUCT TDS AS WELL AS I HAVE TO PAY GST OR NOT ?? OR I SHOULD PAY ONLY GST ??? PLEASE TELL ME THANKS UDAY
17 July 2023
You have to pay GST over and above the agreed value of the flat. You have to deduct 1% from each of installment of payments as TDS and same is to be deposited to Government treasury by filing form 26QB, within 30 days from the end of month.
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