GST rate:-
Effective date: -
The new rate shall become applicable from 1 of April, 2019.
Definition of affordable housing shall be:-
A residential house/flat of carpet area of upto 90 sqm in non-metropolitan cities / towns and 60 sqm in metropolitan cities having value upto Rs. 45 lacs (both for metropolitana nd non-metropolitan cities).
Metropolitan Cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater
Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (whole of
MMR).
GST exemption on TDR/ JDA, long term lease (premium), FSI:
Intermediate tax on development right, such as TDR, JDA, lease (premium), FSI shall bee exemptedonly for such residential property on which GST is payable.
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- GST shall be levied at effective GST rate of 5% without ITC on residentialp properties outside affordable segment;
- GST shall be levied at effective GST of 1% without ITC on affordable housingp properties
Effective date: -
The new rate shall become applicable from 1 of April, 2019.
Definition of affordable housing shall be:-
A residential house/flat of carpet area of upto 90 sqm in non-metropolitan cities / towns and 60 sqm in metropolitan cities having value upto Rs. 45 lacs (both for metropolitana nd non-metropolitan cities).
Metropolitan Cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater
Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (whole of
MMR).
GST exemption on TDR/ JDA, long term lease (premium), FSI:
Intermediate tax on development right, such as TDR, JDA, lease (premium), FSI shall bee exemptedonly for such residential property on which GST is payable.
To Join us on Facebook Click Here
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