If 12% GST is going to replace ST&VAT. How housing rate is going to be cheaper for buyers?

ST is 3.75% & VAT is 1% , total 4.75% apart from stamp duty and registration is required to paid.now if 12% GST is going to replace ST&VAT. How housing rate is going to be cheaper for buyers ?

Add Comment
2 Answer(s)

There are 2 situation 1.Sold before completion it will fall in Work contract and GST at applicalble rate to be paid 2.Sold complete unit as immovable property no GST.

Answered on June 17, 2017.
Add Comment

Builder will get the input tax credit of all materials & Service used in project, He must have to pass on this credit to consumer. To that extent GST will be reduced. But it depend upon situation.

Answered on June 21, 2017.
Add Comment

Your Answer

Gen GST