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gst applicable on advance receive by builder

Vijay Shiroya Adv (64 Points)

01 June 2018

gst applicable in advance payment receive from customer for flat booking in case of builder?

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6 Replies

Mehul Parmar (7 Points)
Replied 01 June 2018

yes gst applicable for advance payment

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Divakar (Student CA Final ) (11857 Points)
Replied 01 June 2018

Whether that advance is before completion of building... Only then gst @ 12% applicable

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Vinod Babu (24191 Points)
Replied 01 June 2018

Yes gst applicable.

2 Like

Vijay Shiroya Adv (64 Points)
Replied 02 June 2018

1.if building is complete and not get BUC certificate from municipality then gst applicable ? and 2. building is under construction and builder make dastavage @ this point gst applicable?

Divakar (Student CA Final ) (11857 Points)
Replied 02 June 2018

Once u got completion certificate only then it is deemed to be building is completed... Without completion certificate how u can say building is complete.... And 2nd query samjh nahi aaya mujhe

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Vijay Shiroya Adv (64 Points)
Replied 02 June 2018

got it sir...thanks

1 Like