Raymond Realty’s GST Rate Limited to Three Towers: Maharashtra AAR

In re Raymond Limited – Realty Division (GST AAR Maharashtra) Maharashtra Authority for Advance Ruling (AAR) has determined that Raymond Limited – Realty Division, a business vertical of Raymond Limited, is restricted in its ability to apply the pre-April 1, 2019, Goods and Services Tax (GST) rate of 12% (with Input Tax Credit) to its “Ten X Habitat” residential project. The ruling, issued on April 30, 2024, states that only three out of the ten towers within the project meet the criteria for an “ongoing project,” thus limiting the favorable tax treatment to...