GST rate applicable on construction of commercial apartments

New GST rate applicable on construction  of commercial apartments [shops, godowns, offices etc.] in a real estate project                        

New GST rate with  effect  from  01-04-2019,  after deduction of value of land or undivided share  of  land,  on  construction  of  commercial apartments  [shops,  godowns,  offices  etc.]  by promoter in real estate project are as follows;

 

Construction of commercial apartments in  a  Residential Real Estate Project (RREP) (Residential Real Estate  Project means in  which  the  carpet  area  of  the commercial apartments  is  not more than 15 per cent. of the total carpet area of all the apartments in the project),which commences on or after 01-04-2019 or in  an ongoing  project in respect of which the promoter has opted for new rates effective from 01-04-2019 is 5%  without  ITC  on total consideration.

 

Construction of commercial apartments in a Real Estate Project (REP) other than Residential Real Estate Project  (RREP) or in an  ongoing project in respect  of  which the promoter has opted for old rates 12% with ITC on total consideration.

 

 

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