20 May, 2017

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12% GST On REAL ESTATE WITH INPUT TAX CREDIT ALLOWED

12% GST On REAL ESTATE WITH INPUT TAX CREDIT ALLOWED
The fitment of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The information is being uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes. The decisions of the GST Council are being communicated for general information and will be given effect to through gazette notifications which shall have force of law.

Pursuant to Entry No. 19 - Construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly.

[The value of land is included in the amount charged from the service recipient]

Tax Rate :- 12%  With Full ITC but no refund of overflow of ITC

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