Case Law Details
In re Kayal Infra (GST AAR West Bengal)
Whether the project which is currently under construction by the applicant can be treated as (i) Residential Real Estate Project (RREP) and (ii) affordable residential apartment and what shall be the rate of tax on such supply.
(i) The project referred to in the instant application which is currently under construction by the applicant is a Residential Real Estate Project (RREP) as defined under Notification No. 11/2017- Central Tax (Rate) dated 28.06.2017 and amended vide Notification No. 03/2019-Central tax (rate) dated 29.03.2019 [corresponding West Bengal State Notification No.1135-F.T. dated 28.06.2019 as amended vide Notification No. 552-F.T. dated 29.03.2019]
(ii) The apartments in the said project qualify as affordable residential apartment as defined under the aforesaid notification.
(iii) GST rate to be charged from customers for sale of flats in the said project, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier, shall be 1.5% (0.75% CGST and 0.75% SGST), as further reduced by 1/3 rd to factor in the value of land.
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