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 :
New cheque clearing process in India starting from October 4, 2025 Existing System (Until Oct 3, 2025) : Clearing Method:… Read More
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer… Read More
Taxation Comparison: Gold Coin vs Gold Jewellery Tax Aspect Gold Coin Gold Jewellery ITR Reporting Treated as a capital asset.… Read More
Crypto Taxation & ITR Reporting Guide Tax on Profits from Crypto (Virtual Digital Assets)- Taxation U/s 115BBH Applicability on Virtual… Read More
Savings Account – Rules for Transactions to Avoid Income Tax Scrutiny The Income Tax Department monitors high-value transactions through banks’… Read More
Quick Guide on GST Marginal Scheme What is GST Marginal Scheme Meaning : The GST Margin Scheme is applicable primarily… Read More