See if builder has already deposited the GST amount with government then in that case he sha deduct same along the agreement charge. So ask for challan from.builder for GST.
Hi, I had booked an apartment in Bangalore on 31st August 2019 by paying Rs 5 lakhs as advance. However, we cancelled the booking on 5th November 2019. The builder had clause of deducting Rs 2 lakh. Now the builder is also deducting GST @18% and stamp charges. Is this valid?
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See if builder has already deposited the GST amount with government then in that case he sha deduct same along the agreement charge. So ask for challan from.builder for GST.
Don`t show your willingness to cancel booking. But impose reason of cancellation on builder, full refund.
Where the allottee proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for the allotment. so Builder is entitle to deduct 10% of property cost.
Since deal did not materialize, no service and product purchased, no GST payable, complain to RERA.
Builder is now bound to refund gst on cancellation of flat.
complain to gst authorities or RERA in this regard and seek appropriate order.
In case of cancellation of booking builder can deduct 10 per cent of booking amount
2) in other words builder cannot deduct Rs 2 lakhs
3) in case of cancellation of booking
Builders will have to refund GSTpaid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds, the tax department has said.
4) developer will be able to issue a 'Credit Note' to the buyer as per provisions of Section 34 in case of change in price or cancellation of booking.
"Developer shall be able to take adjustment of tax paid in respect of the amount of such Credit Note,
Dear Sir,
No, it is not valid.
Builders will now have to refund GST on cancellation of flat booked in the last fiscal, I-T dept said. ... Builders will have to refund GST paid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds, the tax department has said.
Builders will have to refund GST paid by homebuyers in cases where they did not to go ahead with the purchase of flats and cancelled the booking during the last financial year ended on March 31, 2019, the tax authorities clarified on Wednesday.
For what purpose he is deducting 18% GST, what type of services or goods he had provided to you.
If the agreement is not registered than what type of stamp amount he is asking.
Don't give 2 lakhs also as per RERA only 15% of earnest money builder can deduct the amount, means only 75k seventy five thousand and not more than that.
Kindly make complaints in the RERA and Consumer Forum of your city.
Deduction of this huge amount out of your booking amount is totally unjustified and contrary to the prevailing law in this connection.
You may approach RERA for solution and relief against this injustice meted out to you.
The new Real Estate Regulation Act (RERA) will enable home buyers to exit real estate deals smoothly.
The builder is also bound by law to return the money collected from buyers within 45 days, after deducting the booking amount.
Builders will have to refund GST paid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds,
A home buyer might want to exit a project for a variety of reasons. An emergency may have forced them to do so or they could simply have got tired of waiting for the project to finish. However, you cannot exit the project without undergoing a monetary dent in most cases.
Builders will have to refund GST paid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds
You have better option to file a complaint before the consumer Court.