https://www.taxtmi.com/article/detailed?id=8434 New GST rates effective 1 April 2019 place under construction affordable housing at 1% without input tax credit (subject to area and value thresholds) and other under construction housing at 5% without ITC. Ongoing projects as of 31 March 2019 may opt to remain under the old ITC based regime or switch to the new no ITC rates, with proportional transition and mandated ITC reversal procedures. Under the new scheme developers must source at least 80% of inputs from registered suppliers or face reverse charge liabilities (18% generally; 28% for cement from unregistered suppliers). Development rights (TDR/JDA/FSI) are exempt only where GST is paid on the constructed flats prior to completion certificate, otherwise taxability and RCM timing attach to the date of completion certificate. en-us Wed, 27 Mar 2019 05:59:11 +0530 Wed, 11 Feb 2026 15:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8434 New GST rates effective 1 April 2019 place under construction affordable housing at 1% without input tax credit (subject to area and value thresholds) and other under construction housing at 5% without ITC. Ongoing projects as of 31 March 2019 may opt to remain under the old ITC based regime or switch to the new no ITC rates, with proportional transition and mandated ITC reversal procedures. Under the new scheme developers must source at least 80% of inputs from registered suppliers or face reverse charge liabilities (18% generally; 28% for cement from unregistered suppliers). Development rights (TDR/JDA/FSI) are exempt only where GST is paid on the constructed flats prior to completion certificate, otherwise taxability and RCM timing attach to the date of completion certificate. Articles Goods and Services Tax - GST Wed, 27 Mar 2019 05:59:11 +0530 https://www.taxtmi.com/article/detailed?id=8434