In case of residential-cum-commercial building where 5 commerical and 5 residential units, price of each is 1 crore. Total 10 crores. The question is :
1. What is applicable rate in case of commercial unit ??
2. What is applicable rate in case of residential unit ??
3. Can ITC be availed ??
4. Is RCM applicable on labour payment ?
5. Is 80 % of input must be from registered person ?
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GST on residential-cum-commerical Complex
Replies (1)
If total area of Commercial units does not exceed 15% of total area of project then it will be treated as residential real estate project.
in your case area it approx 50% (all units are considered at same sq. ft.), hence your project can not be classified as residential rela estate project
If land is owned by you (JDA also included) then deduction of 1/3 is available to the rate of GST
1. Commercial Building 18% GST Rate
2. Residential 1% or 5% (depending upon other conditions)
3. Maintain separate cost reports for commercial and residential and bifurcate your ITC
4. Currently no RCM on labour payment U/s. 9(4)
5. for both 80% cost from registered dealer need to be fulfilled
waiting for any additional suggestion from other member
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