GST Rate on Real Estate

Dear Team, 

I have a client who has opted for 1% GST rate under affordable pricing. Here are few of the doubts.

1. Few of the flats are more than 90sqmtr, would he still use 1% or becomes 5%?

2. The building has few shops, what will be gst rate for them?

3. Since he took 1% without GST, he had to offset the liability without ITC, but the system took his previous ITC balance to set off the liabilities, what do we do ?

 

Awaiting your expert advice. 

 

Thank you. 

Replies (1)
1. for flats having 90 Sqm gst will be 5%
2. if building has shops having carpet area less than 15 percent of the total area..gst will be charged at 5 percent otherwise 12%
3. reverse your itc availed

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