Abdulmatin (Consultant) (25 Points)
20 February 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(162992 Points)
Replied 20 February 2018
In General catagory GST remains same as 12% (with land cost)
But GST rate over specific scheme like affordble housing schemes has been reduced to 12% from 18% (without land cost), thus effective rate with land cost reduces to 8%.
Balaji
(Executive)
(22 Points)
Replied 20 February 2018
Sir
What is about Notificatin No.01/2018-Central Rate(Tax) dt.25.01.18 . As per point (db) of item 3, the benefit of reduced GST is given to civil structure constructed or acquired under CLSS for EWS/LIG/MIG under Housing for All (urban) Mission or under Pradhan Mantri Awas Yojana(PMAY).
Prior to this amendment, reduced GST benefit was applicable to afordable houses constructed under PMAY or any such Scheme. This amendmend seems to be applicable to person specific and not project specific. If person is eligible under CLSS under any one of the category of EWS/LIG/MIG (each category having Income Limit and house area limit) whether he is eligible for reduced GST of 8% (excluding Land value) as per new notifiation irrespective of project status?
Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance
CAclubindia
