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what is the applicable gst rate for residential house which includes land for a sale consideration is Rs.40 Lakhs ?
Replies (3)
Is it sold by builder/developer? Is it under-construction?
If Yes to both........ GST @ 12% applicable......
is gst applicable for sac code 997212 if turnover is below 18 lakh in a year & person is individual. Thnx.
The applicable GST rate will be 12% as the land is included in this case. According to the provision, real estate sales including land are covered under the 12% GST slab. The estate deals without land constitute a GST of 18%. https://blog.saginfotech.com/affordable-housing-under-gst-as-work-contract-rates-revised
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