Hi, I bought an under construction residential house in Oct 2017. The house is bought post implementation of RERA and GST. As per my agreement (already registered with builder), all taxes are to be paid by me over and above the purchase price of property (agreement value) agreed with builder. My undertstanding at time of buying property was since all taxes are to my account any benefit in taxes should also accrue to me. Since I bought this property just after implementation of GST and things were uncertain, I was expecting the increase in cost due to implementation of GST will partly get offset in future by input tax credit benefits the builder will get when he purchases his raw material etc. Later I came to know that builder is already passing input tax credit of 3% to buyers who bought flats in same building before GST implementation. On raising the issue with builder, he tells me that Input Tax Credit is already passed to me in my agreement value and I need to pay entire 12% GST. None of the documentation done with builder/communication with builder at time of purchase didnt have any information to this effect. At time of buying I was just told that they are giving me best possible discounts which i am sure they will be telling to all their customers. Moreover, I have been tracking this property for over a year before buying and am very sure that I had to pay higher amount for buying this property post GST vis-a-vis pre-GST. How can I ascertain post-facto if builder has passed this benefit to me in price given non-transparency involved in pricing real estate deals? Now builder is threatening me cancellation of my house if I dont pay entire 12% GST.
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