GST applies to the purchase of under-construction and new apartments.
When you buy a new apartment from a builder, you are required to pay GST on the property's value (total cost of the apartment).
The Sinking Fund is a separate fund. It is collected by the builder for the maintenance and repair of common areas and amenities within the apartment building. The Sinking Fund is not subjected to GST.
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Is GST payable by buyers to the Builder against the Sinking Fund when purchasing a New Apartment?
skbando
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2023-09-05T08:30:04+00:00 2023-09-05T08:32:18+00:00Comment
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