CONSULTEASE.COM
Annual Membership

Sign In

Browse By

Profile photo of Md HasanuzzamanMd Hasanuzzaman asked 5 months ago

REAL ESTATE GST

I booked a flat on Jan 18, builder charged GST as per old rate.  Now from 1st april 19 GST rate reduced but developer still sending demand as per old rate 12 % & 18 %.
Also they denied for ITC for previous payments.  
Can they charge as on today as per 12 % & 18 % ?
Madam , please advice

Answer the question
2 Answers
Profile photo of Consultease AdministratorConsultease Administrator answered 5 months ago

An option was given to the builders to remain in the previous scheme in case they want to continue. This option was only for ongoing projects. If that option is not exercised then the developer will fall in a new scheme by default. You can ask the builder to show you the copy of the form submitted to exercise that option. Otherwise, they cant charge the old rates. Also if they are charging on old rates benefit of ITC will be there.You can file a complaint against them in anti-profiteering.

Profile photo of Md HasanuzzamanMd Hasanuzzaman answered 5 months ago

Anybody can advice that how input tax credit (ITC) is calculated ?  How to ensure that returned money is ok ?
Is there any difference for ongoing project if I got subsidy of Pradhan Mantri Awas Yojona ?