Gst

Querist : Anonymous (Querist) 18 September 2017 This query is : Resolved
hai...recently a 10 year old flat was purchased by us i.e my son being first name me and my wife.second and third names...me n my wife are above the age of 60 years...the registered value of the property is rs. 58 lakhs...my son availed 25 lakhs from bank as loan to by the property...remaining amount was paid by me.
We have not earmarked any shares in the property while registering the flat.
kindly explain/advise us about GST payable...(still time is there)
1. need not pay? as the property is purchased in 3 joint names and value is less than 50 lakhs per head.
2. can be paid by my son being 1st person and a borrower to get the property...?
3. to be paid by all 3 in respective challans aggregating to 1% of cost of flat?
4.any other way?
please advise.
thank you

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Rajendra K Goyal (Expert) 18 September 2017
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