GST for Real estate coming under CLSS scheme

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Samaresh Ghosh

13 Points Joined April 2018

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.

Replies (5)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210815 Points Joined July 2016

" 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

Samaresh Ghosh

13 Points Joined April 2018

Thank you sir, so as per your information I believe I have to pay 8% GST. Sir can you please help me to understand that I need to pay the GST on total value or on the value that is mentioned in sell deed so on registration amount.

thanks once again.