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real estate gst

Yogesh Kumar Gupta (13 Points)

23 February 2018

Hi
I want to know the current rate of GST on Real Estate
8%or 12%
Need circular for support
Regards yogesh
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6 Replies

vamsi krishna (Article Assistant) (268 Points)
Replied 23 February 2018

Sir,

Real estate transaction are suffered tax at the rate of 18%, but there is deemed fiction for 1/3 rd of the value is pertaining to land, hence rate of tax is 12% (ie, 2/3 rd of 18%)

Thanks

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Yogesh Kumar Gupta (13 Points)
Replied 23 February 2018

But i heard the rate is be down to 8% AS TOI
is it possible to clear my doubts

vamsi krishna (Article Assistant) (268 Points)
Replied 23 February 2018

Sorry sir,

Actual rate is 12%, and 1/3 rd is value of land so effective rate is 8% (ie 2/3rd of 12%)

your contention is correct only

thanks

Yogesh Kumar Gupta (13 Points)
Replied 23 February 2018

Any proof or circulation for this

vamsi krishna (Article Assistant) (268 Points)
Replied 23 February 2018

Sir,

Refer

Notification No. 11/2017-Central Tax (Rate)

There clearly mentioned that, value of land is 1/3 rd of total consideration and applicable rate of tax is 18% (but it is ammended subsequently at present rate of tax is 12%)

Thanks