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Below are the activities which is treated as supply for charging GST in real estate sector
New GST Rate apply With effect from 01.04.2019 on supply of construction service which involving property in land transfer shall be as Bellow –
Kind of Apartment | Rate of GST which is after deduction of value of land |
Residential Apartments | |
· Non affordable Residential Apartment | 5 Percentage without Input tax Credit on whole consideration |
· Residential Apartment which is affordable | 1 Percentage without Input tax Credit on whole consideration |
Shops, offices, godowns etc kind of Commercial Apartments | |
Other than Residential Real Estate Project (RREP) | 12 Percentage without Input tax Credit on whole consideration |
Residential Real Estate Project (RREP) | 5% Percentage without Input tax Credit on whole consideration |
Basic means of affordable residential apartment is a kind of apartment for residential in a project which
Definition of Residential Real Estate Project means a real estate housing project which
To be Notes:
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