A builder constructed a residential multi story but on ground floor he had sold shops also .
What will be GST rate ? 5% without ITC or 18% with propionate ITC on sale of shops?
In case the carpet area of commercial premise in a residential project is not more than 15% of the total carpet area of the project, then the same is treated as residential project and eligible for concessional GST rate of 5% on the commercial premise also.
ITC is not available in case of 5% GST.
Attached hereunder Notification no. 3/2019 GST
For clarification about different term, FAQ attached hereunder..
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If a residential cum commercial real-estate project having more than 15% commercial area than GST Rate Applicable for
1 Residential Apartment
2.Commercial Shops
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