GST on Real Estate | Analysis of GST on Real Estate Sector | Impact of GST on Real Estate
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- เผยแพร่เมื่อ 4 ต.ค. 2024
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GST on Real Estate | Analysis of GST on Real Estate Sector | Impact of GST on Real Estate discussed by CA. Aditya Dhanuka.
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• GST on Real Estate | A...
In March 2019, the GST Council cut the tax rates to 5% from 12% on residential properties and 1% from 8% for the affordable housing segment. ... However, ITC benefits will not be available under the new tax rate policy.
Notifications 3/2019 to 8/2019 were released on 29th March 2019 and are effective from 01st April 2019, which have proposed major amendments to boost up the growth of real estate sector
Builders to have one-time option for ONGOING PROJECTS:
To pay tax at existing rates of 12% (affordable houses) or 18% (others) with ITC or
To pay tax at new rate i.e. 1.5% (affordable houses) or 7.5% (non affordable houses) without ITC
Option to be exercised by filing notified form on or before 20th May*, 2019
In case no option is exercised, new scheme will compulsorily apply
This option is available only for ongoing projects
New Projects commencing on or after 1st April, 2019, will be under new
scheme only.
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It shall not to be used for any legal advice /opinion and shall not to be used to rendering any professional opinion. Viewers are advised to kindly go through to original Government publications / notifications and published case laws or judicial pronouncements.
The statements and opinions expressed in video are those of the speaker and do not necessarily reflect those of the CA Sansaar or any of its employees. CASansaar Team does not take any responsibility for the views of the Speaker.
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Many thanks for the detailed explanation. I have one query. I am going to purchase a flat for Rs 100 lacs (Rs 30 lacs for land and Rs 70 lacs towards construction). Should I pay 5% GST only on the construction cost of Rs 70 lacs or on the total Rs 100 lacs? Thanks
A minor query. In particular to RREP projects (commercial
very nice and detailed explanation. hatts off to you
sir if i pay GST to developer, may i get GST receipt on my flat no/ apartment name.... I askes old receipts for reference, Developer is showing old GST receipts on his firm name only...
Thank you so much sir for sharing valuable knowledge.🙏
Some people are buying small plots of 100-150 meters in freehold area and constructing 3 floors and after completion of construction, selling these. However, the Completion certificate is not available because local authority does not issue considering freehold plots. Please advise if GST would be applicable on this.
Sir i have purchased under contruction flat and builder is demanding society formation charges with 18% gst. I want to know is it legal to charge gst on such charges. The charges includes society formation cost, maintenance charges for 12 months, deposits for electricty and water and proportionate share of taxes
Great session sir. thanks for sharing knowledge
Good presentation sir
Thank you for valuable session.
Redevelopment housing society members ko gst lagta hai kya. Please batao
.
@aditya dhanuka Thank you so much for sharing.
Thank you sir
Sir what would be the tax if we get alternate site (vacant land only) at 50-50 share
Hello, is there any gst I have to pay if I am buying a house. The house is a row house, construction is already completed. The seller's CA is asking for 18% gst from me. I had read if I am buying completed property I don't have to pay gst. There is no completion certificate the seller has. Please help me with that.
Hi, based on the information provided, no GST is leviable. Please connect if required.
Commercial me 12 % ok understand but my que is ke kis amount ke 12%? I mean agreement value ke 12%ya stamp duty amnt ke 12%?
Specially in the case if the redevelopment project is under construction
Sir GSTR1 Sale Deeed par bharna hai yaha har amount Advance dekana hai ...
Agreement to Sale hogaya Slow by Slow payment mil raha hao ...GST 1% kab bharna hai
Thanks SIR
सर मैने 2014 मै एक अंडर कंट्रकशन प्रॉपर्टी खरीदा था मैने 2014 मै सर्विस टॅक्स और टी डी एस नही भरा था क्यूकी ये प्रॉपर्टी का पॉसेशन नाही हुवा था पर आज तक ईस प्रॉपर्टी का पोसेशन नाही मिला है पर मुझे अभि ये टॅक्स पैड कारणा है तो क्या ऑपशन है ? मुझे पेनल्टी कितना आ सकता है? अगर मुझे आज टी डी एस् और सर्वीस टॅक्स चुकांना हो तो जीं एस टी भरणे आयेगा की मै पेनल्टी भर के सर्विस टॅक्स और टी डी एस भर पाऊंगा क्या?
GST R1 kya bharna hai Setoff tu nahi milnewala.. Nil Bharna hai yaha After Sale Deed Whole Amount lene hai
Sir mera Real Estate business hai is ma gst kise fill kare
👍👍👍🎉🎉🎉
Vivek sir plz make content on Merger & Aquisition . or Tax Litigation 🥺 plz sir
Amazing Amazing Amazing
Thanks 🙏
Very precise and helpful .Thank you sir
Sir, I booked a under construction flat of 820 sq ft super buildup aera on February 2022 in non metro city on a price 24.6L। now registration will be done in this month (sept)।builder demanding gst 9%।
Plz guide me ,what to do?
@asit maity Applicable tax rate is 5% only. Please pursue with builder.
Sir flat of super build up aera 820 sq.ft , and in affordable house ।
👍👍👍
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Have you received the ppt ?
Sir share the ppt
good
Sir landowner after completion hi sell karaga na appartment ko. Then shedule 3 m wo Cover ho jayega.
Sir if area condition is satisfied but value condition is not satisfied in case of affordable housing then which rate will be applicable 1% or 5%?
5%
@@aditya.dhanuka thank u sir
@@aditya.dhanuka How?
Share the ppt
PPT please
My company, Mandaljee Digital Life Pvt Ltd
Fantastic .... Really impressed... Well done sir...
sir pls share ppt
Sir, can I get the PPT on WhatsApp
Hi
Thank you sir
Hi