GST on buying under construction builder floor
This query is : Resolved
04 May 2023
I am in the process of buying a under construction builder floor in Delhi. The builder is saying we have to pay 18% GST. Is the rate 18% ? Plus he is saying that builders can't claim any ITC under the GST act ? Is this true ? Please provide your insight. Thank you
04 May 2023
In India, buyers of under-construction flats, apartments, and bungalows pay 1% GST for affordable housing and 5% GST (No ITC) for non-affordable housing.
04 May 2023
Thank you sir.
I just saw that for the SAC code 995411 with description : Construction services of single dwelling or multi dwelling or multi-storied residential building, , the GST rate is 18%.
My question is - won't this code be applicable in my builder's case ? If yes, then isn't the builder correct OR will it be 5% only as you had mentioned (non-affordable) ?
I just saw that for the SAC code 995411 with description : Construction services of single dwelling or multi dwelling or multi-storied residential building, , the GST rate is 18%.
My question is - won't this code be applicable in my builder's case ? If yes, then isn't the builder correct OR will it be 5% only as you had mentioned (non-affordable) ?
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