GST RATES FOR A CONSTRUCTION OF HOUSING PROJECT

[hubert fernandes]

In a single Housing Project i.e RREP (Residential Real Estate Project) ,can we construct affordable residential apartments with 1 % applicable GST( being below 90 M2 & gross amount charge under 45 lakhs) & also construct non-affordable residential apartments with 5% applicable GST, or is it that Housing project (RREP) should be exclusively with all apartments in a project falling under criteria of affordable housing i.e below 90 M2 & gross amount charged under 45 lakhs) then only concessional rate of 1% is applicable ?

AI Summary

Clarification on GST Rates: Mixed Housing Projects Can Have Both 1% and 5% GST Based on Individual Unit Assessment. In a discussion forum about GST rates for a housing project, a query was raised regarding the applicability of different GST rates for affordable and non-affordable residential apartments within a single Residential Real Estate Project (RREP). The question asked whether all apartments must meet affordable housing criteria to qualify for a 1% GST rate. The response clarified that it is not necessary for all apartments to be affordable to benefit from the 1% rate. Each apartment is assessed individually, allowing for a mix of units with some qualifying for 1% GST and others taxed at 5%.