can any builder charge gst on consideration value and again on agreement value? and maintenance charges of core(2.5/-) and township(1.3/-) is chargeable under gst(cgst+sgst)?
Dear Client, based on your question, GST is payable only if the agreement to purchase is a under construction property and also payment if part/full has been paid by the purchaser to seller and recorded in books of account. The GST is charged on the total value of the agreement of the property. Charging GST both on agreement value and consideration value is not allowed. GST is applicable on monthly maintenance charges (both core and township) if a housing society’s turnover exceeds Rs. 20 lakhs (Rs. 10 lakhs for special category states). In case of RWA maintenance, If the maintenance is less than Rs. 7500 per month no GST is applicable. If the annual turnover of RWA is less than Rs. 20 lakhs then no GST is applicable. If the maintenance charges exceed Rs. 7500 GST at the rate of 18% is applicable on the whole amount. Hope this answer help you. for details discussion feel free to contact us.
