Query on passing on benefit of GST for home buyers:
Do you have a query about GST and its impact on house purchase? Look at this ISC page to learn more from our experts.
I came to know that there is a Government note issued recently that builders have to pass on the reduced GST back to the home buyers/customers. I would like to know what is the present reduced % of GST? In pre-GST era, I paid Service Taxes for Sales considerations/water and electricity charges/Floor rise charges/infrastructure and amenities charges/ parking charges etc, at different rates, and additionally, I paid 18% GST in post GST era. This is really unjustifiable. If you think logically, the difference between the service tax paid and GST paid will be reimbursable.
If you purchase a fully constructed house, after issuance of completion certificate no GST is to be paid. Is that true?
I request, tax experts to answer my query.