- January 21, 2019 at 7:17 pm #52198
What is the rate of GST on newly construced flat? A builder has started construction after 01/07/2018 and now want to sell of the flats. What is GST rate applicable for sale of such flats.January 21, 2019 at 7:34 pm #52199
In your case the builder has started construction after 1st July 2017.
If he is selling the flats, after he has received completion certificate the same will be exempt from GST.
If he selling the flats before obtaining Completion Certificate, the rate of GST is 18%.
Also in case value of land is being transferred in the value of property, the Applicable GST rate will be 12%January 21, 2019 at 7:37 pm #52200
Also there is specific exemption applicable in case of MIG and HIG flats. The applicable GST rate is 8% in case of HIG / MIG flatsJanuary 21, 2019 at 7:48 pm #52201
Thanks Mam. Is there any supporting notifiction for this?January 21, 2019 at 8:37 pm #52204
Yes there are.January 21, 2019 at 8:56 pm #52206
Read CGST Rate Notification number 11/2017 dated 28th June 2017January 21, 2019 at 9:00 pm #52207
Here is the link of the notification
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