GST Rate 12 % or 18 % Contractor
This query is : Resolved
01 September 2021
In the case of residential project where more than 50% flat are less than 60 sq. mtr. Balance are More than 60 sq. mtr. work contractor charges concessional rate of GST for flat less than 60 sq. mtr @12 % . Can project get infrastructure status vide notification of Government of India, in Ministry of Finance, Department of Economic Affairs vide F. No.13/6/2009-INF, dated the 30th March, 2017;
Even if selling price of flat is more than 45 lakh.
Even if selling price of flat is more than 45 lakh.
02 September 2021
For concessional rate,both conditions need to be satisfied- less than 60 smtr and less than Rs.45 lakhs.Hence it will be 18%.
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