GST rates on supply of affordable and non-affordable residential ...

GST 1.5% on affordable, 7.5% non-affordable apartments. Commercial 18%. Construction ITC restricted except plant & machinery.

October 26, 2024

Case Laws GST AAR

GST rates on supply of affordable and non-affordable residential apartments in a real estate project (REP) are 1.5% and 7.5% respectively, while commercial apartments attract 18% GST. A promoter can supply affordable and non-affordable apartments conjointly, subject to prescribed conditions. For construction of commercial apartments in a REP other than residential real estate project (RREP), GST rate is 18%. Input tax credit is restricted for goods and services used in construction of immovable property on taxpayer's own account, even if used in course of business, except for plant and machinery, as per Section 17 of CGST Act.

View Source

← Previous Next →

GST rates on supply of affordable and non-affordable residential ...

GST 1.5% on affordable, 7.5% non-affordable apartments. Commercial 18%. Construction ITC restricted except plant & machinery.

October 26, 2024

Case Laws GST AAR

You may also like:

The SC clarified that affiliation services provided by universities to colleges are taxable at 18% GST rate. Affiliation services by educational boards/councils to...

Input Tax Credit - GST paid on goods purchased for the purpose of construction & maintenance of Warehouse - no ITC of GST paid on goods purchased for the purpose of...

Recommendations of the 33rd GST Council meeting - Real estate sector - GST fixed @1% in case of affordable housing properties and 5% without ITC in other residential properties.

Benefit of Exemption from GST - affordable housing - The project referred to in the instant application which is currently under construction by the applicant is a...

Rate of GST - promotion of villa projects for the villa buyers - The applicant is liable to pay GST at the rate of 1.5% in respect of the services of construction of...

The AAAR held that a registered person must reverse Input Tax Credit (ITC) availed on inputs used to manufacture steel nails that were subsequently destroyed in a fire...

The West Bengal Directorate of Commercial Taxes has issued clarifications on GST rates and classifications based on the 55th GST Council meeting. Key determinations...

The summary highlights the reversal of Input Tax Credit (ITC) due to the non-electronic filing of Form GST ITC-02 by the transferor company. The key points are: Section...

Rate of GST - old rates of GST or new rates - ongoing projects construction of which had started before 01.04.2019 - definition of ‘affordable residential apartment’ has...

Migration from Composition Scheme to regular scheme of GST payment - Permission to petitioner to file ITC-01 FORM to avail its eligible ITC or input lying on the stock...

Validity of Service of notice u/s 74(5) instead of u/s 74(1) of CGST / UPGST Act, 2017 - Non-payment of Tax / GST - The High Court observed that while a notice was...

Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% - As amended by notification dated 18-8-2017

The key points covered in the legal document are: 1. It introduces new forms (GST SPL-01 to GST SPL-08) for taxpayers to apply for waiver of interest and penalty u/s...

Rates of Tax on Goods - Schedule 1 - IGST @ 5% - CGST @ 2.5% - SGST / UTGST @ 2.5% - GST

Quick Updates: