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GST ON RESIDENTIAL FLAT

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29 February 2020 I HAVE PURCHASED FLAT AND MY AGREEMENT REGISTERED IN FEBRUARY 2019, AND MY HOUSING LOAN DISBURSED IN APRIL 2019. PLEASE HELP ME TO KNOW APPLICABLE GST RATE. MY AGREEMENT VALUE IS 21,00,000/- AND ARE IS 640 SQ. FT
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CA Anita Bhadra

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CA Anita Bhadra (Expert)
29 February 2020 GST Applicability depends on the following factors in your case:-
(a) Purchased ready to move in flat.
(b) Purchased from Builder or in the second sale - NO GST
(c) If from builder, whether he has received a completion certificate at the time of sale of flat to you.

GST @ 12% or 5 % ( Builder had the option to charge 12% with ITC and 5% without ITC ) is applicable on sale of under-construction property or ready to move-in flats where completion certificate is not issued at the time of sale.
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