Real estate

You have to pay 5%\1% GST mandatorily. NO ITC available.

And any projects after1.4.19 is considered as New project. And it has no option to choose the tax rate 

Option was available for ongoing projects. 

Dear Sir,

Hope you are doing well !!

Only for the projects launched before April 1, 2019, the GST Council allows the developers to stick with the old GST rates, with ITC benefit.

Now, you do not have a choice to choose between old and new rates.  

You will have to comply with new structure i.e. 1% without ITC.

Hi,

- In case of new projects i.e. construction and booking started after 01.04.2019, new rate @1% without ITC will be applicable.

- In case of ongoing projects i.e. booking and construction started before 31.03.2019, last date to avail the option of 1% without ITC was 10.05.2019 which required to fill and file Annexure-IV with the jurisdictional AO/Commissioner.

Thanks

No for all the projects which are starting after 01 april 2019 there is no such option available you need to choose only between 1% and 5% and since you are providing affordable housing your rate is 1% since your registration is after 10th May 2019.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hello,

This option is not available for new projects started after 1st April 2019, you will have to charge 1% without ITC for the affordable housing project.

Option to select between old & new rates was available for projects under construction as on 1st April 2019.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Yes, you can choose to apply 1% GST rate without ITC. You will have to issue tax invoice.

Hello Sir,

You will have to take new structure I.e 1% without itc.

Tax invoice will be issued.

Hi

Option to choice is  for ongoing projects,For all the new projects after 01.04.2019,no choice is available.

So in your case ,rate will be 1% without ITC.

Tax invoice to be issued

Hope it helps