9911796707
TMI BlogGST RATES FOR A CONSTRUCTION OF HOUSING PROJECTX X X X Extracts X X X X X X X X Extracts X X X X ..... GST RATES FOR A CONSTRUCTION OF HOUSING PROJECT X X X X Extracts X X X X X X X X Extracts X X X X ..... a single Housing Project i.e RREP (Residential Real Estate Project) ,can we construct affordable residential apartments with 1 % applicable GST( being below 90 M2 & gross amount charge under 45 lakhs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) & also construct non-affordable residential apartments with 5% applicable GST, or is it that Housing project (RREP) should be exclusively with all apartments in a project falling under criteria of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffordable housing i.e below 90 M2 & gross amount charged under 45 lakhs) then only concessional rate of 1% is applicable ? Reply By KUNAL DESAI: The Reply: It is not necessary to construct only affo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdable housing in a project to avail benefit of 1%. The concessional rate of 1% is to be seen in the context of each and every individual flat. It is not at all necessary to construct all flats with s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame sizes. Resultantly, test of 90 sq. mtr and consideration of ₹ 45,00,000/- is to be applied on every flats individually. It shall also be possible that there are mix units wherein some of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hem are leviable at 1% and some of them are taxable at 5%. X X X X Extracts X X X X X X X X Extracts X X X X
|
