From 01.04.2019 the effective rate of GST applicable on construction of residential apartments by promoters in a real estate project are Sl No. Description Effective Rate of GST ( After deduction of Value of Land ) 1 Affordable Residential apartments 1% on total consideration (Without ITC ) 2 Other than Affordable Residential apartments 5% on total Consideration (without ITC […]
Intricacies on TDS payment to Land Owner by Promoter in Joint Development under Section 194IC of Income Tax Act, 1961 Rate of TDS- 10% | Threshold– Any Amount Points to Ponder ♣ There should be Joint Development Agreement (JDA) registered as mentioned U/s. 45(5A). Such agreement is termed as Specified Agreement. ♣ Applicable only in case […]
