WebApr 26, 2024 · The total GST applicable is calculated by adding the SGST (state GST) and CGST (central GST), thus 18% GST = 9% SGST + 9% CGST. 12% GST = 6% SGST + 6% CGST and so on. The following is a snapshot of how GST rates on real estate construction materials is applicable: *The list is indicative. WebMar 8, 2024 · A GST of 1% is payable on affordable homes, and 5% for non-affordable housing. To get the 1 % GST rate on flats, at least 80% of the raw material has to be …
GST on Real Estate & Flat Purchase - SOBHA Ltd.
WebApr 11, 2024 · For housing developments that do not fall within the affordable housing segment, the revised GST rate for construction services as of April 1, 2024 is 5%, with … WebApr 14, 2024 · The current tax rate of 15 percent on funds placed into superannuation accounts will be increased to 30 percent, in a move to generate an additional $2 billion in tax revenue per year. dr elizabeth celi
What is Affordable Housing as Per GST – Explained
WebNov 9, 2024 · From 1st April, the applicable GST rates have been fixed at 5% for non-affordable housing properties and only 1% for affordable housing properties. There are no GST rates applicable in the case when a ready to move property is purchased. GST on Gold The GST rate fixed on items made of gold, mainly including jewellery is 3%. WebApr 6, 2024 · GST rate: under sac code 995411 i. GST levied at effective GST rate of 5% without ITC on residential properties outside affordable segment; ii. GST levied at … WebApr 1, 2024 · For flats rated more than Rs 45 lakh, the new GST rate applicable from April 1, 2024, stands at 5%, against 12% currently. The GST Council also reduced GST rates on affordable housing to 1%, from the current 8%. In both cases, the builders will not be eligible to claim an input tax credit in the new structure. dr. elizabeth chacko