If in sale deed amount written is 15 lakh only then GST on same is payable asnrest of money taken by builder must be in case and not legal. So pay GST on sale deed value.further GST is always payable on sale value not market.
GST on market value or sale agreement value
HI, Recently i purchased a property for 36lacs. Sale agreement done for 36 Lacks and in the Sale deed its showing 15.6 lacks. So My question is GST is on Marked value or Sale agreement value? Note: Builder is forcing me to pay GST of 12% on 36lacs(Sale Agreement value).
Asked 7 years ago in Taxation
9 Answers
You should Pay GST as per sale agreement value,
Let him show the rules if not, then knock the legal door.
Hello,
GST will be paid on the value that has been paid as consideration.
Builder can not keep the amount with himself after taking the same in lieu of GST.
Regards
You have to pay GST on declared sale agreement value
If registration of the property is done then you have to pay the GST and the amount registration is done sales agreement have no value after the registration.
Gst is on sales agreement value which is 15.6 lakh,
1. GST is levied on the value of the actual transaction and not on any market value.
2. IF the market value is lower then the transaction calue, then the agreement value shall prevail.
As many of us know SALE AGREEMENT has no value after registration, please clarify the below 1. Should i consider GST on SALE DEED VALUE or SALE AGREEMENT VALUE. 2. I am applying for PMAY(pradhamantri awas yojana), under PMAY gst should be 8% but the builder is not accepting for 8%.
Asked 7 years ago
1. Sir technically both the values are same. Pay GST on sale deed value.
2. If your application under PMAY is accepted pay GST under the concessional rate at 8 percent.
GST would be on value mentioned in your sale deed
2) why is builder not willing to accept GST at 8 per cent . Any reasons mentioned by him