GST on Commercial Flat & Residencial Flat

This discussion clarifies the Goods and Services Tax (GST) applicable to commercial and residential flats. The rate generally depends on whether the property has an Occupancy Certificate (OC) and its construction status. Key rates mentioned are 5% without Input Tax Credit (ITC) and 12% with ITC. There's also a potential 1% rate for affordable housing under specific conditions. Importantly, no GST is levied if full payment is received after the completion certificate is issued.