What will be GST rates on pending payments for house purchase

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hat will be GST rates on pending payments for house purchase<br> Query (Issue) Started By: - Amit Agarwal Dated:- 25-2-2019 Last Reply Date:- 25-2-2019 Goods and Services Tax - GST<br>Got 1 Reply<br>G....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ST<br>I booked a house in June 2016, for amount say &#8377; 50L,and paid &#8377; 10% of the total value that is 5L to book house. I paid 12% GST charges on booking amount that is 5 Lakhs. Now as buil....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ding is completed, builder asked me to pay rest 45 Lakh plus GST and final demand note for &#8377; 45L plus GST at the rate of 12%. As layman, what I understood from GST counsel decision on 24th Feb ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....2019, now 5% GST will be applicable on house. So, should I defer the balance payment ie 45 Lakh till 1st April, so as to get GST cut benefit. Reply By KASTURI SETHI: The Reply: In such cases, notifi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cation will be prospective and not retrospective. True picture will come only after issuance of notification.<br> Discussion Forum - Knowledge Sharing ....