TaxTMI 
TaxTMI 
Sir kindly clarrify
1. a builder who builds 10 row houses should be compulsory exercise REP or RRep scheme?
2.if not necessary then what is the GST tax rate applicable sir
Real Estate- GST
19 Dec 2020 
3 Replies 
3110 Views Asked by
GST on new residential projects requires the new scheme; cash payment, ITC ineligible, and RCM applies to unregistered inputs.
New residential constructions started on or after 01.4.2019 must follow the new residential project scheme when registered under RERA, with concessional GST rates depending on affordable housing qualification. Tax under the scheme must be paid in cash and input tax credit is ineligible. A specified high share of project purchases must be from registered suppliers or the shortfall will attract reverse charge mechanism; purchases of cement from unregistered suppliers attract RCM. (AI Summary)
New residential constructions started on or after 01.4.2019 must follow the new residential project scheme when registered under RERA, with concessional GST rates depending on affordable housing qualification. Tax under the scheme must be paid in cash and input tax credit is ineligible. A specified high share of project purchases must be from registered suppliers or the shortfall will attract reverse charge mechanism; purchases of cement from unregistered suppliers attract RCM. (AI Summary)