UNFAIR IMPOSITION OF G.S.T ON DELAYED RESIDENTIAL PROJECT.
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Hon. Prime Minister Of India,
You are well aware of the plights of 1 million+ Indian Home Buyers stuck in various real estate projects all over the Country, some of these projects older than 10+ years. To help Home Buyers you had taken a great initiative of bringing a new law RERA but result is well known. Most of the states if not even all have failed to practically implement the law as per the time schedule prescribed in the RERA.
When we people purchased these flats to have a small dwelling place by investing whole life's savings there was no VAT/Service Tax on under construction flats. If builders had acted as per the promise we should had got our flats even before these taxes became applicable on this sector. Moreover we have already lost most of the tax Incentives available under IT laws due to delay.
The governments at State/Center who were supposed to protect the Home buyers taken for ride never bothered to take care of our woes and we had to come on roads to protest and request you to help us. The previous Government imposed Service Tax on under construction projects your Government increased that and now in the name of G.S.T you have imposed an additional burden. The truth is Builders are going to pass additional 8% tax to buyers as technically they wont have any tax inputs from old constructions and it's shocking that your Government which can excuse lakhs of crores farmer's loans is doing this to fleece more from the victims of this real estate scam. Is it just because we are a law abiding tax payers of lower middle class and like Builders/Development Authorities/Brokers/Banks/Electricity Department/State Governments/Local Governments, FM too feel fleecing more money from Home Buyers is an easy step to fill coffers.
Sir, we request you to either exempt all those projects which were launched more than 5 years back with delivery dateline of 36 months but not delivered or charge this Tax from the guilty Builders who have failed in giving possession in time and make sure this burden is not passed on to the buyers of old projects in any circumstances.
We look forward to have a very kind attention from you, FM & G.S.T Council too and request an exemption to delayed projects from G.S.T.
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