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Gst on Real Estate Sector

12 June 2019

If any entity misses the date 2o th May on which it should opt one time option to stay in 12% gst rate , whether there is any way to exercise that option?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (167390 Points)
Replied 13 June 2019

No, unless amended in future.

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Madhukar N Hiregange (Chartered Accountant) (39034 Points)
Replied 13 June 2019

In the provisions, we do not see this option. However, in new laws- one challenge which remains is IF IT IS ARBITRARY, UNREASONABLE, AGAINST THE FUNDAMENTAL RIGHTS ENSHRINED IN THE CONSTITUTION- ART- 14 ( EQUALITY) OR 19(1) (G) RIGHT TO BUSINESS)

It is also a fact that the govt issued a second round of clarification on the subject a few days before 20th deadline.

Two ways in which the issue can be resolved. Push thru the trade assn/ CREDAI for an extension request to GST council. File writs. In the meantime file the option as soon as possible to put on record.