tag:blogger.com,1999:blog-5269558537262232516.post4435078550416736095..comments2024-03-29T19:32:16.791+05:30Comments on Ravi Karandeekar's Pune Real Estate Market News Blog: How to send fraud builder - developer to jail & recover your moneyRavi Karandeekarhttp://www.blogger.com/profile/01681035021606018101noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5269558537262232516.post-90333401708511319222017-12-28T12:46:29.151+05:302017-12-28T12:46:29.151+05:30Thanks for sharing. The information you shared is ...Thanks for sharing. The information you shared is very useful for me.<br /><br /><a href="https://sbobetth168.com" rel="nofollow">ทางเข้า sbo</a><br /><a href="https://sbobetth168.com" rel="nofollow">ทางเข้า sbobet</a><br /><a href="https://sbobet.gclubslot.com" rel="nofollow">แทงบอล sbobet</a><br />TONLOVE69https://www.blogger.com/profile/09495921976368975757noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-49940228096022095282017-06-24T21:34:36.608+05:302017-06-24T21:34:36.608+05:30One more trick by crook builders to extort money f...One more trick by crook builders to extort money from existing flat buyers of under-construction flat.<br /><br />Builders asking flat buyers to make full payment by Jul 1 illegal: Naidu -<br /><br />Builders asking buyers of under construction realty projects and flats to pay full amount before July 1 to avoid paying more tax after GST roll out is illegal. <br /><br />http://timesofindia.indiatimes.com/india/builders-asking-flat-buyers-to-make-full-payment-by-jul-1-illegal-naidu/articleshow/59251174.cmsTheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-73646846341089512932017-06-16T18:41:57.682+05:302017-06-16T18:41:57.682+05:30This news is about another Pune's crook builde...This news is about another Pune's crook builder, Darode Jog for his project Liviano, Kharadi where despite taking over 1.5 Crores from flat buyers, he has not completed the project as builder is bankrupt.<br /><br /> <a href="https://goldenslot.gclub-casino.com/" rel="nofollow">goldenslot</a><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-3376737123667957342017-06-16T10:36:27.740+05:302017-06-16T10:36:27.740+05:30Press Information Bureau
Government of India
Mini...Press Information Bureau <br />Government of India<br />Ministry of Finance<br />15-June-2017 17:05 IST<br /><br />*Reduced Liability of Tax on complex, building, flat etc. under GST* 💠🔰🌀<br /><br />The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12% in respect of under construction flats, complex etc, the people who have booked flats and made part payment are being asked to make entire payment before 1stJuly 2017 or to face higher tax incidence for payment made after 1st July 2017. This is against the GST law. The issue is clarified as below:-<br /><br /> <br /><br />1. Construction of flats, complex, buildings will have a lower incidence of GST as compared to a plethora of central and state indirect taxes suffered by them under the existing regime.<br /><br />2. Central Excise duty is payable on most construction material @12.5%. It is higher in case of cement. In addition, VAT is also payable on construction material @12.5% to 14.5% in most of the States. In addition, construction material also presently suffer Entry Tax levied by the States. Input Tax Credit of the above taxes is not currently allowed for payment of Service Tax. Credit of these taxes is also not available for payment of VAT on construction of flats etc. under composition scheme. Thus, there is cascading of input taxes on constructed flats, etc.<br /><br />3. As a result, incidence of Central Excise duty, VAT, Entry Tax, etc. on construction material is also currently borne by the builders, which they pass on to the customers as part of the price charged from them. This is not visible to the customer as it forms a part of the cost of the flat.<br /><br />4. The current headline rate of service tax on construction of flats, residences, offices etc. is 4.5%. Over and above this, VAT @1% under composition scheme is also charged. The buyer only looks at the headline rate of 5.5%. In other cities/states, where VAT is levied under the composition scheme @2% or above, the headline rate visible to the customer is above 6.5%. What the customer does not see is the embedded taxes on account of cascading and sticking of input taxes in the cost of the flat, etc.<br /><br />5. This will change under GST. Under GST, full input credit would be available for offsetting the headline rate of 12%. As a result, the input taxes embedded in the flat will not (& should not) form a part of the cost of the flat. The input credits should take care of the headline rate of 12% and it is for this reason that refund of overflow of input tax credits to the builder has been disallowed.<br /><br />6. The builders are expected to pass on the benefits of lower tax burden under the GST regime to the buyers of property by way of reduced prices/ installments. It is, therefore, advised to all builders / construction companies that in the flats under construction, they should not ask customers to pay higher tax rate on instalments to be received after imposition of GST.<br /><br />7. Despite this clarity on law position, if any builder resorts to such practice, the same can be deemed to be profiteering under section 171 of GST law.<br /><br /> <br /><br /> <br /><br />*****<br /><br /> RAVINDRAhttps://www.blogger.com/profile/00749268186104663615noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-64746688064403367482017-06-12T11:04:25.374+05:302017-06-12T11:04:25.374+05:30Thanks Ravi Sir, Sandy Podi and The Monk. Infact, ...Thanks Ravi Sir, Sandy Podi and The Monk. Infact, I received this massage from one of the builder's site, where I had made inquiry. This shows how the builders make home buyers to believe "Now or Never"!<br /> RAVINDRAhttps://www.blogger.com/profile/00749268186104663615noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-82076902041601106422017-06-11T23:12:02.435+05:302017-06-11T23:12:02.435+05:302. For other segments, prices have already fallen ...2. For other segments, prices have already fallen by atleast 20-25% & dipping further. <br />And GST is just excuse of builders to officially reduce prices, just like the way they said few months back that RERA will increase prices by 30%, LoL.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-19078945017395712402017-06-10T16:25:14.617+05:302017-06-10T16:25:14.617+05:30@ Ravindra
There is still more clarity expected b...@ Ravindra <br />There is still more clarity expected but here are some articles which throw some light.<br />1. For affordable housing prices will definitely go down <br />2. For other segments it might remain same or reduce wont increase <br /><br />Please find below the links which mention these points<br /><br />http://www.dnaindia.com/business/report-builders-see-affordable-housing-prices-coming-down-3-4-under-gst-2454000<br /><br />http://m.timesofindia.com/business/india-business/gst-gains-prices-of-flats-may-drop-by-up-to-5/articleshow/58798164.cmsAnonymoushttps://www.blogger.com/profile/09889242269026150509noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-42348933552282401062017-06-08T23:20:03.170+05:302017-06-08T23:20:03.170+05:30This news is about another Pune's crook builde...This news is about another Pune's crook builder, Darode Jog for his project Liviano, Kharadi where despite taking over 1.5 Crores from flat buyers, he has not completed the project as builder is bankrupt.<br /><br />Police register complaint against builder -<br /><br />AN OFFENCE was registered on Tuesday against the office-bearers of Darode Jog Builders for allegedly duping a customer by not giving him the possession of flats he had already paid for within the stipulated time.<br /><br />The police have booked Sudhir Darode and Anand Jog, directors of Darode Jog Builders, Parag Borawke, managing director, and Guna Pannu, deputy manager, under sections 406, 420 of the Indian Penal Code.<br /><br />http://epaper.indianexpress.com/c/19662110<br /><br />And another major builder, HDIL has gone bankrupt with it's property being seized by bank.<br /><br />HDIL fails to repay loan, Central Bank of India seizes its Kurla property -<br /><br />http://www.dnaindia.com/business/report-hdil-fails-to-repay-loan-cbi-seizes-its-kurla-property-2465061<br /><br />DLF sinking deeper into debt underlines dismal state of real estate sector -<br /><br />http://www.livemint.com/Money/NWgly5KixJV8QP7eLdL70N/DLF-sinking-deeper-into-debt-underlines-dismal-state-of-real.html<br /><br />If you see, in the last few years, the yearly sales have fallen from Rs. 6800 Cr to Rs. 1200 Cr ! Still wonder how builders, hoarders & agents still want buyers to believe their non-sense logic about how good it is to buy property now. Better they bail out their own bankrupt Pune builders like Darode Jog. <br /><br />Good to see buyers filing Police FIRs against crook builders, be it this temple rose city or Darode Jog builder.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-86147657365695580272017-06-08T09:41:26.256+05:302017-06-08T09:41:26.256+05:30I am not sure, Ravindra!I am not sure, Ravindra!Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-66970752051681116092017-06-06T18:55:00.953+05:302017-06-06T18:55:00.953+05:30
Dear Sir/ Madam,
GST will become applicable fro...<br />Dear Sir/ Madam, <br /><br />GST will become applicable from *1 July* and will be levied @12% on flat cost. The current rate on S.Tax and Vat is 5.5%. *Book and register your flat before 30th June and save 6.5%* <br /><br /><br />How true is this?????<br />RAVINDRAhttps://www.blogger.com/profile/00749268186104663615noreply@blogger.com