https://www.taxtmi.com/circulars?id=65123 The Council approved an effective GST regime for under construction residential properties: 5% without ITC for non affordable and 1% without ITC for affordable housing, effective 1 April 2019; adopted area and value based eligibility for Affordable Housing (carpet area ceilings of 60 sqm in specified metros and 90 sqm in non metros with a Rs. 45 lakh value cap), allowed up to 15% commercial area treated separately, mandated 80% procurement from registered suppliers with RCM on shortfalls, set pro rata ITC transition rules, and tasked the Fitment and Law Committees to draft detailed notifications and transitional provisions. en-us Sun, 24 Feb 2019 00:00:00 +0530 Wed, 06 Oct 2021 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65123 The Council approved an effective GST regime for under construction residential properties: 5% without ITC for non affordable and 1% without ITC for affordable housing, effective 1 April 2019; adopted area and value based eligibility for Affordable Housing (carpet area ceilings of 60 sqm in specified metros and 90 sqm in non metros with a Rs. 45 lakh value cap), allowed up to 15% commercial area treated separately, mandated 80% procurement from registered suppliers with RCM on shortfalls, set pro rata ITC transition rules, and tasked the Fitment and Law Committees to draft detailed notifications and transitional provisions. Circulars GST Sun, 24 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65123