GST -REAL ESTATE-RATES 5 OR 12 %
This query is : Resolved
23 February 2022
Dear Sir / Mam, one of my client operating real estates business
his projects start before 01/04/2019 he is charging 12% on flat sales, he is claiming ITC on purchased, he has opted for Old regime only, out of 25 flats he sale 12 flats by entering sale deed & development agreement & from 13th flat they have given sale deed to customers with out entering any development because they had received completion certificate ,
please confirm in the present case , developer to liable to receive 12 % or 5 %
his projects start before 01/04/2019 he is charging 12% on flat sales, he is claiming ITC on purchased, he has opted for Old regime only, out of 25 flats he sale 12 flats by entering sale deed & development agreement & from 13th flat they have given sale deed to customers with out entering any development because they had received completion certificate ,
please confirm in the present case , developer to liable to receive 12 % or 5 %
23 February 2022
12% GST applicable as he has opted for old regime and claimed ITC.
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