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How to Charge GST on real-estate business

Aj Style (Student) (337 Points)

08 October 2019

Suppose a Builder has started new project, which will complete in 2 years. Now my question is what will be his turnover during monthly GST filling and on what amount he will pay GST like mean Booking amount , advance received etc.

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166047 Points)
Replied 08 October 2019

As and when advance or installment/s received from the customers. Customer will pay the tax along with the installment.

Well, no GST on any sell contract made after receipt of 'Completion certificate'

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 08 October 2019

Yes Fully Agree with Sh Dhirajlal ji

Advance is not included in defination of Aggregate Turnover

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Gaurav Dixit (124 Points)
Replied 09 October 2019

Pankaj Rawat Ji, Advance may be in form of installment then it will include in aggregate turnover or not. Some time some customers deposited advance lumsum amount and requested to builder for the adjustment in form of installment.

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