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 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...