Gst tax rate ready for occupation apartment
lvsrinath (manager) (79 Points)
30 June 2020
what is the gst rate for New House buying in apartment with occupation
2 Replies
CA Rashmi B
(Assistant Manager)
(787 Points)
Replied 30 June 2020
If the construction of apartments are completed / occupancy certificate for the apartments is already obtained. There will not be any GST. Else it will we 1% for affordable houses or 5% for other than affordable Houses (If the construction was started after 1/05/2018
Further if it is old projects who has not opted for new rate it ll be 18% ( with 1/3rd land deduction) so effective rate would be 12%
Further if it is old projects who has not opted for new rate it ll be 18% ( with 1/3rd land deduction) so effective rate would be 12%
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