GST on real estate

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30 Points Posted on 20 July 2020
is the reduced rate of 1%/5% (with no ITC)
optional or mandatory w.e f 1/4/2019 for construction services?-
for projects started after 1/4/2019
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On 20 July 2020 at 13:43 Report
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Quick Summary
The GST rates of 1% for affordable housing and 5% for other real estate projects, without input tax credit (ITC), became mandatory for all new projects commencing on or after 1st April 2019. For projects already underway as of 31st March 2019, opting for these rates was optional.

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GST Consultant
15986 Points Posted on 20 July 2020
It is Mandatory
1 Reply
On 20 July 2020 at 14:39
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Student
23693 Points Posted on 20 July 2020
The Effective GST Rate of 1% in case of Affordable Housing Segment and 5% incase of Non - Affordable Housing Segment ( without the benefit of ITC ) is effective from 01st April 2019 ( 01/04/2019 ) and "MANDATORY" for all Projects starting on and from 01/04/2019.
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On 20 July 2020 at 17:52
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1313 Points Posted on 20 July 2020
Gst rate 1%/5%on real estates is not optional. It is mandatory.
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On 20 July 2020 at 20:11
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30 Points Posted on 20 July 2020
Thank you
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On 20 July 2020 at 20:55
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GST Consultant
15986 Points Posted on 20 July 2020

You are welcome......

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On 20 July 2020 at 21:01
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Student
23693 Points Posted on 20 July 2020
Your most Welcome @ Deepti Venugopal...
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On 20 July 2020 at 21:15
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30 Points Posted on 21 July 2020
Had a doubt whether it was only for ongoing projects as on 31.3.2019
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On 21 July 2020 at 09:39
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Student
23693 Points Posted on 21 July 2020
Yes, it was OPTIONAL for the Ongoing Projects as on 31/03/2019.
1 Reply
On 21 July 2020 at 10:35

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