what is the Gst rate for under construction property
Nilesh Wanga (1 Points)
21 August 2019Nilesh Wanga (1 Points)
21 August 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 21 August 2019
The developers of residential projects which were incomplete as on March 31, 2019, had the option either to choose the old structure with ITC or to shift to the new 5% and 1% rates, without ITC.
Builders got a one-time option to continue paying tax at the old rates (effective rate of 8% or 12% with ITC) on ongoing projects (buildings where construction and actual booking had started before April 1, 2019, but which were not be completed by March 31, 2019)
Read more at new-gst-rate-on-under-construction-property-what-buyers-must-know
Shivam RC
(Student)
(23683 Points)
Replied 21 August 2019
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