Am I required to pay GST if I have paid partial amount for a flat?

Forums GST Am I required to pay GST if I have paid partial amount for a flat?

Am I required to pay GST if I have paid partial amount for a flat?

I have paid 30 percent of the flat value to the builder and I am going to send the remaining 70% through a home loan. Am I still required to pay GST to the builder? If yes, at what rate shall I pay the GST?

Profile photo of savita Asked By: savita 1 replies 0 helpful answers Last Updated: 2 weeks, 1 day ago
  • Profile photo of savitasavita
    Participant

    I have paid 30 percent of the flat value to the builder and I am going to send the remaining 70% through a home loan. Am I still required to pay GST to the builder? If yes, at what rate shall I pay the GST?

  • Profile photo of Ankita MathurAnkita Mathur
    Moderator

    If the flat is ready to move in or is completed property, then GST will not be applicable and in case the property is under construction, it will attract GST @ 12%.

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