ITC refund from builder on commercial property

Q: How can get refund from builder who is charging me 12%gst on under construction commercial property.He said that he is filing ITC but he is not getting refund from govt.

rajan,

3rd November 2019

Buying property in Pune

gst on commercial property

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For the ongoing projects, builders have been given the option to either continue in 12% Goods and Services Tax (GST) slab with ITC (8% for affordable housing), or opt for 5% GST rate (1% for affordable housing) without ITC.

Vinay Sharma, Pune

11th December 2019

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Thanks But what about commercial property?

rajan,

9th November 2019

Comment

Ok, Rajan, you go to this link and you will get every info:- https://www.e-startupindia.com/blog/5-things-to-remember-on-new-gst-rates-for-real-estate-sector/10360.html

https://www.e-startupindia.com/blog/all-about-gst-on-rental-income-from-commercial-property/10439.html

Pulkit Kumar,

9th November 2019

As per the latest GST rules on the real estate, the current GST rate on the under-construction property is 5% and 1% on the affordable segment. Here ITC is not available.
The builder is wrongly charging you 12% GST which is old rate, not applicable now.

Pulkit Kumar,

9th November 2019

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