As we all know that GST is applicable on purchase of property from Builder, but GST is applicable on what value.
I.e. for e.g.
The property cost is 1 crore, so
Is GST applicable On full value since price includes the cost of land (not a supply).
And what is the present applicable rate??
Thanks in advance..
GST rate over under construction property is 12% where land cost (or its share) is inclusive, eg. apartments.......
Otherwise, 18% where land cost is excluded (e.g. separate construction agreement).......
CAclubindia
