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gst on real estate business
whether gst is applicable on real estate? If yes at which rate tax shall be deducted?
Replies (2)
Yes........... 12% GST over total cost including land
GST charges all under-construction properties at the rate of 18% on there two-third value which will
turn around to be 12% on the entire value of the property.Ready-to- move-in properties are kept out of
GST.Cement will be taxed at the rate of 28% while Iron rods and pillars used in the construction of
buildings is charged at the rate of 18% in GST.
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