1% GST ON FLAT

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This discussion clarifies the applicability of 1% GST on flats, specifically whether it applies to regular or composition taxpayers. While regular taxpayers typically pay 5% GST and composition taxpayers pay 6% (as it's considered a service), the conversation delves into a specific scenario of selling a flat for £40 lakh. The user is seeking confirmation on the correct GST rate to charge, especially after availing ITC benefits, with a suggestion of 12% GST being mentioned.

Rahul Katole

Rahul Katole (Querist)

09 September 2020 R/sir,

please tell me 1% GST on flats applicable for Regular or Composition tax payer...?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

10 September 2020 5% GST payable by regular and 6% GST payable by composition tax payer as it's considered as service.

Rahul Katole

Rahul Katole (Querist)

10 September 2020 Thank you sir for your precious answer.
But i taking ITC benefit on regular basis since last year now this year 1 flat sold @40 lakh. So which gst rate could i charge ?
plz tell me sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

10 September 2020 12% GST applicable..........

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