The short answer is yes, your commission income is subject to GST, regardless of the status of the builder's project or whether the builder is exempt from GST on their property sales.
Why Your Commission is Taxable
Under the GST regime, the nature of the service provided by you (consultancy/brokerage) is distinct from the nature of the transaction performed by the builder (sale of property).
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You are a Service Provider: Your activity—providing real estate consultancy or brokerage services—is classified as a taxable supply of services.
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The "Exempt" Status of the Builder's Project: The fact that a builder has an Occupancy Certificate (OC) or is "exempt" from GST on the sale of completed units means that the builder's supply of immovable property is not subject to GST. However, this does not grant an exemption to the service providers (like you) who are hired to facilitate their sales.
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Your Tax Liability: As a registered person under GST, you are required to pay GST on your outward supplies. Your commission is your income for services rendered, and it attracts the standard GST rate for such services, which is typically 18%.
Key Points to Remember
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Independent Taxability: Your consultancy service remains a taxable "business auxiliary service" (or intermediary service). The taxability of your service is determined by your activity, not by the tax status of the client's (the builder's) final product.
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Invoicing: Even if the builder claims they are exempt from GST, they are the recipient of your taxable services. You must raise a tax invoice to the builder for your commission, including the applicable GST (18%).
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Registration Status: Since you are already registered under GST (based on your home loan services to SBI), you must report this commission income in your GSTR-1 and pay the corresponding tax in your GSTR-3B.
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Reverse Charge Mechanism (RCM): RCM is generally applicable to specific services or specified categories of suppliers. Your consultancy service provided to a builder does not typically fall under a category that shifts the tax burden to the recipient via RCM. You are responsible for collecting and remitting the tax.
Summary: Your consultancy commission is a separate taxable service. Even if the builder's project is exempt from GST, your service to them is not. You must charge and pay 18% GST on your commission income.