![]() ![]() ![]() ![]() The notification allows the concessional rate of tax for affordable residential units even when the project contains commercial units which do not exceed 15% of the totii units. ![]() Thus, the project to be developed under the JDA comprises both affordable residential apartments and also other than affordable residential apartments. The list of residential apartments showing the carpet area and the sale price of the units proposed to be sold is produced as Annexure -2. Thus, the 20 residential units in the project would qualify as “Affordable Residential Apartments” as defined in Notification No. All the 50 units in the apartment complex have the carpet area of less than 60 square metres and the total sale consideration including all charges in respect of 30 residential apartments will be above 45 lakhs and in respect of 20 residential apartments, the total sa:e consideration will be below 45 lakhs. The proposed residential project consists of 50 units out of which 14 apartments are to be given to the landowner towards the landowner’s area under the Joint Development Project. The applicant is planning to execute a Joint Development Agreement for the development of a plot of land into a Multi Storied Residential Apartment Project (Residential Real Estate Project). The applicant namely Crescent Builders is a Partnership firm engaged in the development and construction of residential apartments. 03/2019 Central Tax (Rate) can be availed in respect of the units which qualify as “Affordable Residential Apartment” in a Residential Real Estate Project” when the project consists of both “Affordable Residential Apartments” as well as apartments other than Affordable Residential Apartments? Facts The Kerala Authority of Advance Ruling (AAR) has held that 1.5% GST on affordable residential apartments. ![]()
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