EXTRA PROFIT BY PYRAMID INFRATECH AND OTHER BUILDERS OF AFFORDABLE IN THE NAME OF GST.
GST CHARGED BY BUILDERS OF AFFORDABLE HOUSES WITHOUT PASSING OVER ANY ITC AS PER ACT.
As per the government direction, the prices fixed by the builders prior to 1.7.2017 should be proportionately reduced and GST @ 8% should be charged on the reduced cost. However, the builders are charging GST on the rates fixed prior to 1.7.2017 and not allowing ITC despite protest to Builders and also pointing out to Anti-profiteering Authority.
I had lodged the complaint to Anti-profiteering in September, 2017 and again in February, 2018. I found no reply from them so, far,
best regards
R K JAIN 79, UNITED INDIA APARTMENTS, MAYUR VIHAR PHASE-1 EXTENSION,DELHI - 110 001.
Cell No. 9999886490
mail : rajeshkjain.99@gmail.com more
As per the government direction, the prices fixed by the builders prior to 1.7.2017 should be proportionately reduced and GST @ 8% should be charged on the reduced cost. However, the builders are charging GST on the rates fixed prior to 1.7.2017 and not allowing ITC despite protest to Builders and also pointing out to Anti-profiteering Authority.
I had lodged the complaint to Anti-profiteering in September, 2017 and again in February, 2018. I found no reply from them so, far,
best regards
R K JAIN 79, UNITED INDIA APARTMENTS, MAYUR VIHAR PHASE-1 EXTENSION,DELHI - 110 001.
Cell No. 9999886490
mail : rajeshkjain.99@gmail.com more
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There are small builders, who would have built 12 to 20 Flats, they did not get registered prior to 2016-17. So obviously, he will not charge, but those who are registered, they either add 12% in the cost or Charge Extra. more
Apr 24
my friends experience is simple. Builder claims Service Tax is 12 %. The clause is worded in a way that the builder will be taking 12 % n pay to the Government full 12 % Benefit Builder n Financiers to the Builder will take the rest of the Benefits for those who invested in the scheme Interesting way for the Government to encourage Profiteering. Builders Confidence is Anti profiteering Department's action can not take place before completion of the building Later what happens is Imaginable Why's the Government Silent - V need to make them change n correct before it is too late Builders soon will get the CC n Sell at higher Prices or even at same prices aas they do not need to pay GST Government needs to correct the situation Who's Responsible more
Apr 24
I would like to know the basis of saying that input tax credit has not been afforded in the financial transactions. I feel it can be assessed by the tax authorities only or at best by the CA working with builders. Whatever taxes are paid by the builders are recovered out of the taxes charged from the buyers and the taxes paid by the builders to the suppliers are not taken into costing. Correct me if I am wrong. more
Apr 24
Many of the Builders are clearly mentioning that the price is not affected by GST in almost all their advertisements, which incidently means that they are giving the benefit to the buyers. In case any Builder is not doing this, there is no reason why the affected persons should not bring it to the notice of the relevant authority for necessary corrective action. Simply writing about it here is merely an information for others, but may not be brought to notice of concerned authorities. more
Apr 23
