Page Contents
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:
Popular Articles :
Loan Against Shares Interest Rates Explained: What Investors Should Know In India’s dynamic financial market, investors often look for flexible… Read More
Why and How to Avoid Useless Expenses This Diwali – A Nature Lover’s Perspective October 2025 Diwali, the festival of… Read More
How to manage repayments effectively on a personal loan of three lakhs Taking a Rs. 3 lakh personal loan can… Read More
Procedure of Member’s Voluntary Winding Up under the Companies Act, 1956 A Members’ Voluntary Winding Up is a mode of… Read More
Top 10 Financial Transactions That Can Trigger Income Tax Scrutiny : The Income Tax Department keeps a close watch on… Read More
Overview of the Internal Audit Iceberg Concept Apache Iceberg introduces a powerful feature called Integrated Audits, which allows organizations to… Read More