Need help and advice I had bought a commercial property with Vatika in 2012. Total Sales consideration amount was paid upfront. Property is currently under construction. Now I have received below mail from Vatika

Dear Sir/ Ma’am,
We wish to inform you, that Indian business tax environment is witnessing its biggest transformation from the existing, complex and multiple Indirect taxes system to a new, integrated Goods and Services Tax (GST). This new tax regime of Goods and Services Tax is likely to be implemented from 1st July, 2017. As per the schedule of GST rates for services as approved by GST council, the activity for Sale of under construction residential/commercial property is chargeable to GST @12% (as per other conditions of The Central Goods And Services Tax Act, 2017) In light of the above, you may please note that post implementation of GST, instead of VAT and Service Tax we would be charging GST at the rate of 12% or 18% on sale consideration & other charges respectively payable with respect to the subject unit booked by you.


My Question: Since the sales amount is already paid in 2012, will GST change have any impact on me? Or the above mail is just a standard mail sent to probably all customers, without a proper relevance check? Thanks
Read more
Reply
2 Replies
Sort by :Filter by :
  • No GST to be paid on u/c property where you have paid full amount before implementation of GST.
    CommentQuote
  • Gangothri Developers Don't buy, cheated by unlawfully taking GST and not refunding, and does not provide proper documents including GST tax invoice which anyhow not paid by him to GST authorities and only low quality construction and partial amnesties. He gave Occupancy Certificate in October 2018 but which was dated 30th June 2017 (1 day prior to GST implementation) but taken GST amount on full payment when sale deed made. Requested him to return but he is not giving.
    CommentQuote