pri Annexure IV: To adopt old GST rate in ongoing real estate projects Annexure IV: To adopt old GST rate in ongoing real estate projects

GST Form Annexure IV- for Real Estate Project to be declare to the Jurisdictional Commissioner one time option to adopt old GST rate in ongoing projects

Source- CGST (Rate) Notification No 03/2019 dated 29th Mar 2019 related to Real Estate Projects

GST Annexure IV for Real Estate Builder to declare to the Jurisdictional Commissioner, one time option to adopt old GST rates in ongoing projects by 10th May 2019.

If the Option is not exercised in the form at Annexure- IV by 10th May 2019, option to pay tax at the new rate for Real Estate  Project wef 1st April 2019  as the case may be shall be deemed  to have been exercised.

Provided also that Invoices for Supply of the service can be issued  during the period  from 1st April 2019 to 10th May 2019 before  exercising  the option , but such invoices shall be in accordance  with the option  to be exercised.

Format of GST Annexure IV

Annexure IV

FORM

(Form for exercising one time option to pay tax on construction of apartments in a project by the promoters at the rate as specified for item (ie) or (if), against serial number 3 in the Table provided in the Central Tax (Rate) Notification No-3 dated 29th Mar 2019, as the case may be, by the 10th of May, 2019)

Reference No. ___________________

Date ____________

To

____________________

____________________

____________________

(To be addressed to the jurisdictional Commissioner)

1. GSTIN:

2. RERA registration Number of the Project:

3. Name of the project, if any:

4. The location details of the project, with clear demarcation of land dedicated for the project along with its boundaries including the longitude and latitude of the end points of the project:

5. The number, type and the carpet area of apartments for booking or sale in the project:

6. Date of receipt of commencement certificate:

Declaration

1. I hereby exercise the option to pay tax on construction of apartments in the above mentioned project as under :

I shall pay tax on construction of the apartments:

(put tick mark in appropriate box)

At the rate as specified for item (ie) or (if), against serial number 3 in the Table provided in the Central Tax (Rate) Notification No-3 dated 29th Mar 2019 At the rate as specified for item (i) or (ia) or (ib) or (ic) or (id), against serial number 3 in the Table provided in the Central Tax (Rate) Notification No-3 dated 29th Mar 2019

2. I understand that this is a onetime option, which once exercised, shall not be allowed to be changed.

3. I also understand that invoices for supply of the service can be issued during the period from 1st April 2019 to 10th May 2019 before exercising the option, but such invoices shall be in accordance with the option being exercised herein.

Signature ___________________

Name _______________________

Designation _________________

Place __________________

Date __________________

Download Format of GST Annexure IV in word format 

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18 Comments

  1. Pradeep says:

    Dear Sir,

    If the company has not submitted Annexure IV, Can we still avail the benefit of old rate by filing the form now? Is there any penalty imposed for the same?

  2. Raghavendra kandakur says:

    Dear sir
    Please help me in this
    Booked 1bhk flat in October 2018 and it’s under construction property and registration is still not done and only flinth is finished ( registration is delayed by builders as they faced Sonal issues and still no clarity is seen even today )
    I have only costing sheet given by builder which is signed by both of us and paid 15 lacs as advance in October 2018
    They are not informing me the GST rate whether they are follow g old rate or new rate even after sending many reminders
    Please suggest what should I do.
    Regards

  3. Vishesh says:

    Dear sir,
    i purchased a 2 BHK flat in Ghaziabad in the year of 2013 and taken plan of payment 50% initially and 50% on possession. I made 50% payment in 2013 & 2014 and now i have to pay 50% amount of original cost.in 2013 total cost of flat was 39.5 lacks but builder now charged 12 % GST rate which is mentioned in offer letter issued on 24 Feb-2019.
    Till date( in June -19) builder has not provide any completion certificate of project and they are not ready to reduce GST rate from 12 % to 5 %.
    Kindly suggest what i have to do.
    With kind regards
    Vishesh

  4. Atul Sreekumar says:

    Is Annexure IV Form Manually or Online ? The last date shown as 10-05-2019. Please help me to opt Ongoing Projects in 12% tax rate with Elidgible of ITC.

  5. Jitendra Kumar says:

    Respected Sir, I am Jitendra Kumar how to get annexture 4? A/c to CBIC Customer care annexture 4 form is got from GST office.

  6. RASILABEN says:

    Dear Sir,

    I am doing Construction business which is ongoing prior to 31-03-19.I want to remain in old rate 12% by notification no.03/2019 Integrated Tax ( Rate ) dated 29/03/2019 of Government. if I want to retain 12% tax I have to submit Annexture Four Form before 10th May 2019.

    But there is no facility to submit such form on gst portal on online.
    So please generate Annexture Four Form on our portal on my

    Manual Application is not accepted by GST Department.

  7. Harsh dwivedi says:

    Respected sir,
    My question is while filing Annexure IV in that Ref no. to be mention is what and If we want to reversed credit than how we can reversed that credit

  8. Piyush Khedia says:

    Dear Sir,
    i am construction a building on my plot comprising of 50% commercial space and 50% residential units. all the residential units are below 90sq. mtr and below 45 Lakh. sir what will be tax rates for residential and commercial properties? whether my flats will fall under affordable housing? what declaration should i file in annx IV?

  9. Sethu Raja says:

    1. I hereby exercise the option to pay tax on construction of apartments in the above mentioned project as under :

    I shall pay tax on construction of the apartments:
    (put tick mark in appropriate box) At the rate as specified for item (ie) or (if), against serial number 3 in the Table provided in the Central Tax (Rate) Notification No-3 dated 29th Mar 2019 At the rate as specified for item (i) or (ia) or (ib) or (ic) or (id), against serial number 3 in the Table provided in the Central Tax (Rate) Notification No-3 dated 29th Mar 2019
    iN THIS CASE IF WE ARE OPTING FOR OLD RATE WHAT WOULD WE SELECT IN THE ANNEXURE IV

  10. Adesh says:

    Dear Sir ,

    Can you please guide me how much GST shall I pay for following case??

    1. Flat agreement date (under construction): 16 Feb 2019
    2. Location: Ghodbandar road, Thane, Maharashtra
    3. Agreement value: Rs. 57,30,000
    4. Property type: 1 BHK, 383 Square feet
    5. Status of property: Under construction (80% completed)
    6. Down payment : Rs. 6 lacs made on 19 Jan 2019
    7. Demand raised by builder: Rs. 45 lacs (along with 12% GST in March 2019 month)

    I have not paid this Rs. 45 lacs amount after GST reduction announcement.

    Now builder is forcing me for payment of Rs. 45 lacs with 12% GST amount.

    For lower middle class family, the chargeable GST amount is really big amount.

    It’s humble request, please guide me in this scenario.

    Thank you.
    Adesh Deshmukh
    Mob. 9403037135,
    Thane, Maharashtra

  11. Adesh says:

    Dear Sir ,

    I read your very good article on taxguru.

    Can you please guide me how much GST shall I pay for following case??

    1. Flat agreement date (under construction): 16 Feb 2019
    2. Location: Ghodbandar road, Thane, Maharashtra
    3. Agreement value: Rs. 57,30,000
    4. Property type: 1 BHK, 383 Square feet
    5. Status of property: Under construction (80% completed)
    6. Down payment : Rs. 6 lacs made on 19 Jan 2019
    7. Demand raised by builder: Rs. 45 lacs (along with 12% GST in March 2019 month)

    I have not paid this Rs. 45 lacs amount after GST reduction announcement.

    Now builder is forcing me for payment of Rs. 45 lacs with 12% GST amount.

    For lower middle class family, the chargeable GST amount is really big amount.

    It’s humble request, please guide me in this scenario.

    Thank you.
    Adesh Deshmukh
    Mob. 9403037135,
    Thane, Maharashtra

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