Based on my understanding of the GST Acts, rules and regulations made thereunder and the notifications issued therein, here I have tried to summarise the provisions of GST related to real estate sector.
A series of notifications related to GST on real estate services were issued by the government on 29th March, 2019. The GST rates on most of the real estate services had been reduced by the government subject to conditions mentioned in the notifications. These rates were made applicable from 1st April, 2019. Below is the summary made based on such notifications:
For the sake of simplicity, following abbreviations have been used in the summary mentioned below:
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