18% GST applicable if Builder not exercised option of lower rate

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 Please become a Premium member. If you are already a Premium member, login here to access the full content.