As per new GST norms effective from April 2019, the GST for under construction has come down to 1% or 5%. I have scenario here for which trying to understand the GST percentage.
1) The under construction property is in thane city
2) RERA area is less than 600 sq. ft. but overall area is more than 700 sq. ft.
3) Agreement price is above 1 CR
4) It's under PM special scheme under which current GST is 8% only
By looking all above data, can you please let me know how much GST percentage (5% or 1%) will be applicable for this scenario?
Thanks
CAclubindia
