https://www.taxtmi.com/highlights?id=87561 The AAR held that the GST rate for the project is governed by the one-time option exercised by the original promoter at 12% with input tax credit. The applicant is bound by this project-specific election and cannot switch to a 5% rate without input tax credit. The ruling emphasizes that the tax treatment is project-based, not promoter-specific. Consequently, the applicant must discharge GST at 18% (9% CGST + 9% SGST) with input tax credit, applying a one-third deduction for land value. The option applies uniformly to existing and new buyers, preventing differential tax rates within the same project. en-us Fri, 18 Apr 2025 08:38:17 +0530 Fri, 18 Apr 2025 08:38:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87561 The AAR held that the GST rate for the project is governed by the one-time option exercised by the original promoter at 12% with input tax credit. The applicant is bound by this project-specific election and cannot switch to a 5% rate without input tax credit. The ruling emphasizes that the tax treatment is project-based, not promoter-specific. Consequently, the applicant must discharge GST at 18% (9% CGST + 9% SGST) with input tax credit, applying a one-third deduction for land value. The option applies uniformly to existing and new buyers, preventing differential tax rates within the same project. Highlights GST Fri, 18 Apr 2025 08:38:17 +0530 https://www.taxtmi.com/highlights?id=87561