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GST Impact On Home Buyers Post 1st July 2017.

  • Purple Realtors by
  • 10 June 2017
GST Impact On Home Buyers Post 1st July 2017.

GST Impact On Home Buyers Post 1st July 2017.

Possibility:- 

Scenario 1: Pre July 1st 2017.

4.5% Service Tax

5% or 6%  Stamp Duty (rural/Urban)

1 VAT

Total= 11.5% approximately

 

Scenario 2: Post July 1st 2017.

12% GST

6% Stamp Duty

Total = 18%

 

(30K registration charges included for both the scenarios)

 

If Stamp duty is raised by 1% (under discussion as on date) than the overall tax slab will be @ 19% for real estate consumers. So congratulations on the savings of 6.5% approximately to all the end-users and investors who have already bought the property.

 

Suggestion: If you have any outstanding than make sure you pay as much possible (according to the construction plan) to avoid tax on the balance amount.  What ever amount is balance and is to be paid post July 1st will attract 12% GST.