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GST Rate and Input tax credit of All Construction
dear sir please as per my knowledge GST Rate is 12% but can we take Input tax credit.please give briefly which construction not tek ITC ? Where we can get Latest Rate ?
Replies (2)
If it is construction of apartments then if your project has commenced after 1.04.2019 then no ITC and effective GST rate 1% or 5% as the case may be on residential apartments and 18% with ITC for commercial apartments. There are more details about commercial apartments in RREP or REP.
If your project has started before 01.04.2019 and you have chosen to claim ITC then rate is 12% otherwise if you have not chosen then by default it is as per first para.
For more details you can mail me.
rate amount diffrance hsn code kya hai sir
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