GSTR 1 & GSTR 3b for real estate

1. GST filing depends on the accounting. If the consideration of the building is linked to construction linked plan then you were required to raise the invoices at the time of completion of construction at each stage and filed the GST returns accordingly. If the consideration is linked to payment then the invoice could have been generated at the time of each payment.

2. It can be done only in the return but take the help of CA because it is a very crucial area.

3. No need to mention in the return.

4. of course.

- Please take phone consultation for detailed discussion. 

Hello,

1. Construction services is covered under Continuous suppy of services, where invoice is to be issued at the the due date of payment that can be identified from the contract. When the payment is linked to the completion of an event, the invoice shall be issued at the time of completion of that event.

2. Advances received are to be declared and adjusted through Col. 11 of GSTR-1.

3. Not required to mention.

4. Yes.

I hope that this answer satisfies your requirements.

Regards,

CA Hunny Badlani

Dear Sir,

Hope you are doing well !!

1 & 2. Need to be discussed in detail.

3. No need to mention in the GST return.

4.Yes, of course.

It is advisable to take a phone consultation for detailed discussion.

If you want to go for the new rate you had to apply for it.

Had you done it? because an existing builder had to choose whether he wanted to go for the new rate.

You need to hire a builder and get everything calculated.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.