<h1>Indian Govt Announces New GST Rates for Real Estate Sector, Effective April 1, 2019; Key Details for Developers.</h1> The Indian government has clarified the new GST rate structure for the real estate sector effective from April 1, 2019. The GST on residential apartments is set at 1% for affordable housing and 5% for others, without input tax credit (ITC). Promoters of ongoing projects can opt to pay GST at old rates (8% or 12% with ITC) by May 10, 2019. For commercial apartments, the GST is 5% without ITC in residential projects and 12% with ITC in others. The guidelines also address GST on development rights, floor space index, and long-term leases, with specific conditions for ongoing projects.