Hi,
I have bought a flat before GST but 90%of the payment I have paid after GST implection.
Same time I am coming under CLSS scheme MIG1, so just to understand as per the revised law, whether I have to pay 12% or 8% on the amount and is it required to pay GST on 10% of the amount I have paid before GST implection.
kindly suggest.
" One of the important recommendations made is to extend the concessional rate of GST of 12% (effective rate of 8% after deducting one third of the amount charged for the house, flat etc. towards the cost of land or undivided share of land, as the case may be) in housing sector to construction of houses constructed/ acquired under the Credit Linked Subsidy Scheme (CLSS) for Economically Weaker Sections (EWS) / Lower Income Group (LIG) / Middle Income Group-1 (MlG-1) /Middle Income Group-2 (MlG-2) under the Housing for All (Urban) Mission/ Pradhan Mantri AwasYojana (Urban). "
Refer: PIB/print Release.=176285
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