Web4 hours ago · It is seen that by circular dated 6th July 2024 issued by the GST Policy Wing, Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, Government of India, it has been clarified that payment of … WebJan 9, 2024 · Meaning of ‘Construction Services’ under GST Law,2024: As per Section 2 (119) of the CGST Act, 2024 as ‘ works contract’ means a contract for building, …
GST on Resale Flats: Is GST applicable on the Resale of Flats?
WebApr 10, 2024 · All of important FAQs answered on the Real Estate sector under GST. Know all about inexpensive casing, the new rates in force, availability of ITC, etc. Browse. INDIVIDUAL PRODUCTS. GST. E-Invoicing & E-Way Bill. TDS. MaxITC. Bills Discounting. Distinct Capture. Cimplyfive. PRODUCT SUITES. Clear Funding Cloud. Clear Software … WebApr 26, 2024 · GST on Key Construction Services: Under construction properties under Credit Linked Subsidy Scheme: 8%: Under construction properties (excluding those under Credit Linked Subsidy Scheme) 12%: Composite supply of works contract for affordable housing: 12%: Composite supply of works contract to government agencies/local govt. … nsw redundancy law
GST on Real Estate 2024: All You Need to Know - Magicbricks Blog
WebMay 3, 2024 · Mr Kiran acquired an under-construction property for Rs. 40 lakhs on the 18th of June, 2016. He received possession of the property from the builder on 2nd of September, 2024. Mr Kiran then sold it on the 15th of February, 2024 for Rs.80 lakhs. He incurred expenses of Rs. 65,000 on transfer of property. Conclusion WebGST on Flat Purchase Under Construction. GST on flat purchases under construction has been a point of concern for luxury property buyers. Under GST, the tax rate … WebDec 10, 2024 · Ans: Effective rate of GST payable on the purchase of an under-construction residence or commercial properties from a builder involving the transfer of … nsw redundancy pay