Real Estate- GST

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..... Real Estate- GST
Query (Issue) Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 19-12-2020 Last Reply Date:- 24-12-2020 Goods and Services Tax - GST
Got 3 Replies
GST
Sir kindly cla .....

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..... rrify 1. a builder who builds 10 row houses should be compulsory exercise REP or RRep scheme? 2.if not necessary then what is the GST tax rate applicable sir Reply By KASTURI SETHI: The Reply: Pl. .....

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..... elaborate your query. Reply By Mayank Jain: The Reply: The new scheme should mandatorily be followed for new residential projects. Therefore, 10 row houses which would registered as a project under .....

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..... RERA, the applicable GST rate is 1% (affordable) or 5%. Reply By Hemanth Kumar: The Reply: In case if it is a new residential construction started on or after 01.4.2019, the applicable rate of tax .....

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..... would be a. 1% -for affordable housing projects b. 5% for other than affordable housing Other conditions will be 1. Tax has to be paid in cash only and ITC is ineligible 2. Minimum 80% of projec .....

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..... t cost should be a registered purchases- short fall RCM will apply 3. Unregistered Cement purchases will attract RCM Regards CA Hemanth Kumar
Discussion Forum - Knowledge Sharing .....

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