GST on Skylark Royaume flats

Q: Did any of the owners at Skylark Royaume get clarity on the GST tax being levied on flats purchased prior to July 1st? Did the builder share anything ?

Qader Imran, Apartment Resident

10th August 2017

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From July 1, GST has been applicable on under construction properties at the rate of 12 percent but not on completed, ready-to-move-in apartments.

Rakesh, Bangalore

16th August 2017

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Hi Rakesh, GST Slab on Construction Sector increased to 18% and you are telling that it is 12%. There is a huge confusion.

Tej Sharma, Bangalore

16th August 2017

The central government pegged the GST on under-construction real estate at 18% that will be applicable on two-thirds of the value of the property. The Government has allowed the discount of one third of the property value as land value. This will bring down the effective rate to 12% when calculated on the entire value, which was the rate announced earlier after the crucial meeting of the GST Council.

You can read about the same here: GST Slab on Construction Sector increased to 18%

Bhargav Dev, Bangalore

16th August 2017

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