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Steep hike on Taxes on stage demand after GST
Review On House of Hiranandani, Chennai

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amalfi
Steep hike on Taxes on stage demand after GST
Aug 12, 2017 06:26 AM 30279 views
(Updated Aug 12, 2017 06:26 AM)

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With the introduction of GST, the builders avail input credit for the purchase of Materials and this reduces cost of construction. The various real estate expert reviews also clearly indicates that there is substantial benefit to builders with GST and government / CBEc has also asked builders to pass on the input credit benefit to flat buyers by way of reduced base price. However, the stage payment demand that I  received from HoH for underconstruction project in Egattur, Chennai has increased taxes by more than 100%. I wrote to company officials but so far there is no reversal nor reason why the quantum of tax has more than doubled and why the input credit is not passed on to flat buyers. I am including below an article from Economic Tmes dated July 07, 2017 on GST for under construction property where


https://economictimes.indiatimes.com/articleshow/59473345.cms?utm_source=conten
tofinterest&utm_medium=text&utm_campaign=cppst I am at loss to understand why such a reputed builder is not passing the benefit of input credit to buyers and burdening buyers with steep increase in Taxes post GST


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Comments on House of Hiranandani - Chennai Review

I have the same problem with them on GST and VAT, unless it has not been notified to authorities we may not get anything.
Most important thing with them is everything they say has to be in writing. Never believe message from staff because they ha...ve no control on anything and real decision makes never turn up for any discussion or to meet customers. Once contract is signed and money is paid you will have to follow what ever they say. So the best advise we can give to all is never buy an under construction property from HOH. If anyone is so serious to get an apartment here, understand that it's almost double the market price, but not for double quality (only outer view is good, not invisible materials). A lot verbal commitment for water, waste treatment, schools, other amenities, but you need to have super patience to wait for 8-10 years to see it at best. Finally all facilities are seperately chargable, so the price of the flat does not include other facilities you will see like pool, ourdoor/indoor play areas, function rooms.. (All chargeable at varying price and you will get it provided they are not rented to outsiders).  Read More

By: RAJEMOHA73 | Oct 06, 2017 12:59 PM

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