GST applies to under-construction properties while land and completed buildings remain exempt. The regime includes 1% and 5% rates without ITC, deemed land valuation, and reverse charge compliance for developers.
India has simplified GST into three slabs and introduced GST 2.0 reforms, effective September 22, 2025, with a 5% rate for essentials and a 40% rate on sin goods.
Rule 86B imposes restrictions on the use of the Input Tax Credit (ITC) for discharging GST liability. It mandates that taxpayers must use a minimum of 1% of their tax liability to be paid in cash, irrespective of the ITC balance available in their electronic credit ledger. This rule was introduced to curb fraudulent activities.
Understand the latest ITR form changes for FY 2024-25, including expanded eligibility for ITR-1/4, new disclosure requirements, and updated reporting thresholds.
Understand GST on renting immovable property in India, including Reverse Charge Mechanism (RCM), exemptions for residential use, and Input Tax Credit (ITC) applicability.
Section 74A streamlines CGST demand determination from FY 2024-25, setting new timelines for notices, penalties, and voluntary tax payments for taxpayers.
Learn about the GST Reverse Charge Mechanism (RCM) applicable to renting passenger vehicles from non-body corporate suppliers to body corporate recipients under specific conditions.
Learn about GST detention and provisional release process under Section 129 of CGST Act, 2017, including forms, penalties, and steps for businesses.
Learn about ISD registration under GST effective April 2025. Understand ITC distribution, compliance rules, and recovery of excess credit.
