Instructions by CBIC on Payment of GST by real estate promoter /developer supplying construction of residential apartment etc, on the shortfall value of inward supplies from registered supplier at the end of the Financial Year
A revised GST rate has been prescribed, w.e.f. the 1st April, 2019 on the supply of service by way of construction of residential apartment. Under this, construction of affordable residential apartments attract GST at the rate of 1% [without ITC] and other residential apartments attract GST at the rate of 5% [without ITC]. (These rates …