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Home > Forum > Hyderabad > Property Tax > Why would buyer has to take burden of extra property tax (12%) for under construction property post ...

Why would buyer has to take burden of extra property tax (12%) for under construction property post GST impolementation?

Q: I need to pay 20% of amount to the builder post GST implementation. Earlier I used to pay a service tax of 4.5% and 1.25% VAT (total 5.75) on each disbursement released by bank. So now with GST, do I have to pay 12% of tax on my remaining 20% amount instead of earlier 5.75%?

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GST will free potential homebuyers and investors from the stress of paying numerous state taxes at different levels, therefore eliminating the double taxation impact. Therefore 12% tax rate under GST regime looks favorable to the industry.
Ramesh Hegde


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