GST Ka Real Estate Pe Prabhav

Real estate India ke GDP ke 5% contribute karta hai aur ek report ke according real estate ko India  me 2nd largest employer bataya gaya hai. 1st July 2017 se GST apply hone ke baad iski impact property bazar bhi kafi hui hai. Abhi recently government ne affordable housing pe GST ki rate 12% se 8% kar di gayi hai.

GST ke alag alag property pe alag alag rules hai, to apko batate hai ki konsi property par kitne percent GST hai. GST aane se hua fayde aur nuksan aap hamare pichhle article me padh sakte hai.

GST

GST on Different property

1) Under-Construction  Property

Jab bhi aap property kisi builder se kharid te hai tab 18% GST 2/3 value of property pe apply hota hai kyunki 1/3 value land value hoti hai jis par koi GST apply nahi hota.

Example. Koi property ki value 60 Lakh hai to usme 40 lakh par GST apply hoga yani hum ye keh sakte hai ki effective rate 12% hai.

Agar koi property apne book ki thi jiski construction 1st July se pehle start ho gayi thi to iss par service tax aur VAT apply hota hai.

2) Affordable Housing

Jo CLSS scheme (PMAY) ke under aati hai unke liye affordable housing pe pehle 12% rate the par 25th January 2018 se ye rate kum karte 8% kar diye gaye.

Iss tarah CLSS scheme me home loan ki subsidy bhi mil jati hai aur sath hi GST bhi sirf 8% hai.

3) Rental Income

To yaha residential property jisse apko rental income hoti hai to iss par koi GST apply nahi hota. Lekin agar commercial property hai aur annual income 20 Lakh se jyada hai to apko 18% GST apply hoga kyunki Residential property services me include hoti hai.

4) Ready to Move Property

Agar koi property ko completion certificate mil chuka hai yani wo ready to move property hai to us par GST apply nahi hota hai.

5) Plot and Land

Plot ya land goods ya service me consider nahi hote hai isliye GST applicable nahi hota hai.

GST impact on builders:

Building ke material jaise ki cement ya paint ki cost aab kum ho jayegi kyunki pehle jo indirect taxes lagte the uske rate jyada the aab GST ke rate usse kum hai.

GST apply hone se pehle apne jo bhi building material purchase kiya usme jo bhi tax pay kiya hai uss par aap ITC (Input Tax Credit) le sakte hai. Pehle cascading tax ki vajah se tax pe tax lagta tha jiski vajah se prices badh jati thi par aab GST ke aane se cascading tax effect khatam ho jayega.

Builder agar purani property jo kisi ko bech chuka hai uss par government se ITC leta hai to builder ki construction cost kum ho jayegi aur usko ye benefit buyers ko bhi dena hoga aisa na karne par government usko saja bhi de sakti hai.

Hum umeed karte hai ki apko samaj aa gaya hoga ki GST ke real estate par kya impact hai aur konsi property par GST applicable hai.

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