What is gst rate on construction service for residential apartment which is constructed on own land ? Is land value should included in construction value for gst calculation?
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Gst rate on construction service on own land
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The GST rate on construction services for residential apartments constructed on one's own land depends on whether the project is considered affordable housing or not. GST Rates:
- *Affordable Housing*: 1% GST rate applies to affordable residential apartments with a carpet area of up to 60 square meters in metropolitan cities and up to 90 square meters in non-metropolitan cities, with a value equal to or less than Rs. 45 lakhs.¹ ² -
*Non-Affordable Housing*: 5% GST rate applies to residential apartments that do not meet the affordable housing criteria. Land Value Inclusion: -
*Exclusion from GST Calculation*: The land value is excluded from the GST calculation. Only the construction value is considered for GST purposes.
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