RATE OF GST ON TDS IN RESPECT OF UNSOLD FLAT

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..... What will be the rate of gst on flats remaining unsold at the time of completion certificate issuance. Will it be: A) 18% on proportionate area unsold on the value of Development right(i.e. Value of similar flat at the time of tdr agreement) or B) 18% - (1/3rd of land) i.e 12% on proportionate are unsold on the value of Development right (i.e value of similar flat at the time of tdr agreement) .....

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..... In short whether value of land be deducted from the tdr rate?? - Reply By Shilpi Jain - The Reply = If your project is under new scheme and is a residential project which is eligible for exemption on TDR then the maximum gst on the unsold portion would be 5% on the sale value of the units closer to the completion date. The rate of 5% takes care of the 1/3rd land deduction - Reply By YAGAY an .....

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..... dSUN - The Reply = T axable @5%:- Applicable to Non Affordable Residential Houses and Commercial House but which is a part of Residential Real Estate Project (i.e where Commercial Carpet area = 15% of Total Carpet Area) No Input Tax Credit is available in this case. The above said Tax Rates 5% are excluding land value which is 1/3rd of the Total Value as said in Notification No.11/2017 . .....

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..... - Reply By NAMAN DOKANIA - The Reply = Shilpi Ji . It would be lower of 18% on prop value of unsold area 5% on value of unsold flat at time of CC .. RIGHT?? My question was will it be 18% or 12%?? - Reply By deepak gulati - The Reply = The GST Rate applicable to development rights is 18% only i.e. no 1/3rd deduction in rate is allowed in case of development rights. Further such tax comp .....

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..... uted @ 18% will be subject to max. 5% of value of flat sold. - Reply By Shilpi Jain - The Reply = Agree with Mr. Deepak - RATE OF GST ON TDS IN RESPECT OF UNSOLD FLAT - Query Started By: - NAMAN DOKANIA Dated:- 8-6-2021 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia .....

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..... - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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