Case Law Details
In re Victoria Realtors (GST AAR Kerala)
1. Whether the new tax rate of 7.5% (effective rate of 5% after excluding land portion), with no ITC, is applicable to the 11 unbooked units in the said VRINDHAVAN project?
No. Since the applicant has exercised option for paying tax at the rate as specified in Item (if) of Sl No. 3 of Notification 11/2017-CT (Rate) dated 28.06.2017 as amended by Notification No. 03/2019 CT (Rate) dated 29.03.2019 in respect of the ongoing project “VRINDHAVAN”, the old rate of tax at 18% [9%- CGST + 9% – SGST] with input tax credit is applicable for all the apartments / villas comprised in the project-“VRINDHAVAN”.
2. Whether the answer given for the first question to VRINDHAVAN project is also applicable to the other similar projects in similar situations?
The answer to Question No. 1 above is applicable to the other similar projects of the applicant in similar situations.
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