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GST on Under Construction building only

Q: GST on Under Construction building only

the completed flat is outside the GST.

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Replies (2)
1
Hi friends,
Apart from that, Stamp duty and registration charges are outside the ambit of GST now because these are state levies while property tax is a municipal levy.
Nikhil Kanetkar


2
Yes, under revised notification from the government that the under-construction properties will be taxed at 18% which includes 9% SGST plus 9% CGST. The government has also allowed deduction of land value equivalent to one-third of the total amount charged by a developer, thus, making the effective tax rate as 12%.
Gauri Shinde


3

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