As far as I know a builder needs to pay about ⅔ value of the contract as a GST charge. This charge is levied irrespective of the actual value of land and whether the such actual value is provided in the construction contracts or not.
He must also pay the output tax but also get the input tax. Suppose a builder pays Rs
25,000
as the tax on his final result and has already paid Rs
21,000
as input tax while buying the construction materials. He will have to pay Rs 4,000 as output tax after having adjusted the input tax credit.
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Authors Of The Question
What are the GST charges paid by builder?
Manish Sharma
32 Views
1 Answers
2 Year
2022-12-14T09:23:31+00:00 2022-12-23T10:09:06+00:00Comment
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