Sir,
My client is developing one Scheme and Land Owners are doing Sale Deed of FSI, and my client is Doing construction agreement.
I want to know that what is rate of GST applicable on Construction Contract Value (upto March-19 and April-19 onwards?) and is ITC available for this construction(upto March-19 and April-19 onwards?)
Please let me know as soon as possible.
2 Replies
pritesh
(CA Final student)
(7101 Points)
Replied 16 March 2019
From April new rate will be applicable.i.e 5% or 1%
Hardik Shah
(Tax Consultant)
(85 Points)
Replied 17 March 2019
But I want to know that, If land is owned by other party and my contractor is doing construction of Houses on that land. Owner of Land is Doing Sales Agreement of Under Developing Construction and My party is doing agreement of Construction. Than will my Party who is Contractor in this case, will be eligible for 5% or 1% GST rate?
also let me know is ITC will be available?
also let me know is ITC will be available?
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