As per Law, 1% GST is imposed on New affordable housing projects commenced on or after 01.04.2019, whereas 5% GST is imposed for other housing projects not covered under affordable housing projects. It is clearly mentioned that
An affordable residential apartment is one in which:
- Carpet area is up to 60 square meters for metropolitan cities;
- Carpet area is up to 90 square meters for cities and towns other than metropolitan cities and;
- The gross amount charged by the builder is not more than Rs.45 lakh.
My query is I am constructing one residential building where few flats fall under the above definition, and few value more than Rs. 45 lakh & cross the threshold limit of 90Sqmtr. Am I allowed to charge different GST rates for different flats under same project?? Please suggest
CAclubindia
