GSt on builders
Priya Kashyap (Student) (7053 Points)
21 February 2019
why 5 % of gst is being proposed on the under construction buildings without any ITC?
2 Replies
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 21 February 2019
VAT was charged @ 1% on agreement value under builder composition scheme
it depends upon net average tax payable by builder, study is carried out committee appointed by government
under GST regime government estimated about net tax liability at 5% it may very
pritesh
(CA Final student)
(7101 Points)
Replied 21 February 2019
yes , they are planning to reduce tax rate to boost up real estate sector.
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