What will be GST rates on pending payments for house purchase, Goods and Services Tax - GST

[Amit Agarwal]

I booked a house in June 2016, for amount say ₹ 50L,and paid ₹ 10% of the total value that is 5L to book house. I paid 12% GST charges on booking amount that is 5 Lakhs.

Now as building is completed, builder asked me to pay rest 45 Lakh plus GST and final demand note for ₹ 45L plus GST at the rate of 12%.

As layman, what I understood from GST counsel decision on 24th Feb 2019, now 5% GST will be applicable on house. So, should I defer the balance payment ie 45 Lakh till 1st April, so as to get GST cut benefit.

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[KASTURI SETHI]

In such cases, notification will be prospective and not retrospective. True picture will come only after issuance of notification.