Sir,
A developer in Kolkata constructed multi storied building under joint development agreement whereby land was from a landowner . This building contains various flats under 'Developer's Allocation' some having carpet area more than 60 sq mt some units less than 60 sq. mtr. So while selling flats /residential units having carpet area less than 60 sq. mt. can the developer impose 1% GST and for those having more than 60 sq. mts. carpet area 5 % , the price limit being within the prescribe limit as per GST law. Please guide me.
Regards
Developer Must Apply GST Rates Per Unit for Flats Based on Carpet Area Under GST Law A developer in Kolkata, under a joint development agreement, constructed a multi-storied building with flats of varying carpet areas. The query was whether the developer can impose 1% GST on flats with carpet areas less than 60 square meters and 5% on those exceeding 60 square meters, while staying within the prescribed price limits according to GST law. The response confirmed that GST rates should be applied per unit, not for the entire project, with affordable housing identified on a per-unit basis. (AI Summary)
Goods and Services Tax - GST
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