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priyank prasad   18 August 2017

Gst collected by builder on statutory deposits, bescom etc.

please help in below mentioned situation:
apartment was booked before GST implimentation and partial payment was made with service tax and VAT, on balance amount GST is applicable. 
our flat value is as per agreement of sale of undivided share of land and agreement of construction together comes as X+Y. sale deed will also contain only this value (X+Y). The documents submitted for bank loan by builder to bank also mentioned X+Y as total flat cost. On top of this cost builder is collecting some other charges which he is terming as statutory deposits and other charges say Z, and he is collecting 12% GST on X+Y+Z. Statutory deposits are for BWSSB, BESCOM etc. My doubt is, whether he should compute GST on X+Y or on X+Y+Z. Please clarify.

 



Learning

 3 Replies

Siddharth Srivastava (Advocate)     18 August 2017

GST @15 percent of consideration is leviable inrespect of under construction projects.

priyank prasad   18 August 2017

As per my knowledge effective rate is only 12% of sale consideration. 

ahmed (document writer)     21 August 2017

dear sir builder can collect gts on X+Y only not on Z 


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