Residential properties within this category are subject to a 5% GST rate, while commercial properties incur an 18% GST rate along with Input Tax Credit. GST Rates on Construction Materials MaterialsGST Rates Sand Oil shale/bituminous, Asphaltic Rocks, Natural Asphaltites, Tar Sand, Asphalt- 18%...
All goods other than in frozen state and put up in unit containers is exempted to pay GST. GST concession on Meat of bovine animals, fresh and chilled. No GST payable on Meat of swine, fresh or chilled. GST on Meat of sheep or goats, fresh or chilled is nil rate. No GST payable o...
“Effective rate of GST payable on the purchase of under-construction residential or commercial properties from builder involving the transfer of an interest in land or individual share of land to the buyer is 12% with full input tax credit (ITC)”, said CBEC. If you have opted property ...
The new GST rate has been discussed below- If works contract service is given by a contractor having GST registration in respect of the construction of an affordable house, then GST rate shall apply @ 12%. In case of any other type of Works contract services, GST @ 18% would apply. 4...
the Rs 20 lakh limit is reduced to Rs 10 lakh. Similarly, the total turnover of all supplies made by you would be combined to compute aggregate supplies. In addition, theGST rateon commercial property rentals will be 18 percent. Rental revenue from a residential property, on the other han...
Additionally, there is a “zero rate” for certain essential goods and services (e.g. exports). One Nation, One Tax: GST is based on the principles of value-added tax and applies to the supply of goods and services across the nation. It brings uniformity in the tax structure across ...
Rate Type Which goods or services 21% Standard All other taxable goods and services 12% Reduced Some foodstuffs; certain agricultural supplies; some social housing; some construction work on new buildings; certain energy products e.g. coal, lignite, coke; some pesticides and fertilizers; certain ...
the tenant becomes a part owner of the house and not of the land. The landlord may be owner of the property but the possession of the same lies with the tenant. This tenant continues to pay rent to the owner as long as he is not sub-renting the premises. Additionally, the tenant has...
(ii) the business is carried on by a personal representative who is deemed to be a taxable person. 5. The following shall be treated as “supply of service” (a) renting of immovable property; (b) construction of a complex, building, civil structure or a part thereof, including a ...
Zhuji city center, south of the base Yingbin Road (formerly the North Ring Road, West River Bridge), west of Puyang Jiang, Zhuji future noble residential area. Park total construction area of about 100,000 square feet, planning a small high-rise and high-rise residential 7, 596 households....