07 August 2013
1. If the Carpet Area is equal to or greater than 2000 sq. ft; or
2. If the value is equal to or greater than Rs. 1 Crore.
If one of the conditions specified above is satisfied then, that will fall under high-end category and the abatement will be limited 70% and taxable portion will be 30%.
Sl. No. 12 is amended in Notification No. 26/2012 - ST dated 20th June, 2012 vide Notification No. 2/2013-ST dated 1st March, 2013 and the same is reproduced below:
(i) for residential unit having carpet area upto 2000 sq. ft; or where the amount charged is less than rupees one crore" - 25%
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