What is gst tax effect on ready constructed sale of shop by builders.?

12%

12% or 5% based on Builders gst opting options.

For commercial property is 12%

Yes its 12%

if it is fully constructed ie sale after obtaining Completion certificate then it is sale of immovable property and hence no GST as it is covered under Schedule III.

if sale of immovable property after full payment or certificate issued - not a good/service no GST
if before
else 12%

After 1st April 2019 as per new scheme commercial property in Residential projects ( commercial space carpet area is less than 15% of total carper area) is taxed at only 5%. If it is in project other than Residential Project ( ie carpet area of commercial space is more than 15% of total carpet area) it is taxed at 12%. Incase of ongoing project it will depend on the option exercised. If sold after obtaining completion certificate there will be no GST

The effect of sale is as follows:

1. If shop is booked after OC - no GST 

2. If shop is in a 100% commercial project & booked before OC - 12% (effective rate after 1/3rd deduction towards land)

2. If shop is in a residential project (ongoing) - Depending on builders option - 12% or 5%

           

whether can take ITC or not?