|Period||Output Tax Rate||Input Tax Credit details||Effective Rate of Tax|
|Pre-GST||Service Tax: 4.5% VAT: 1% to 5% (composition scheme)||Central Excise on most of the construction materials: 12.5% VAT: 12.5 to 14.5% Entry Tax: Yes||No input tax credit (ITC) of VAT and Central Excise duty paid on inputs was available to the builder for payment of output tax, hence it got embedded in the value of properties. Considering that goods constitute approximately 45% of the value, embedded ITC was approximately 10- 12%.||Effective preGST tax incidence: 15- 18%|
|Affordable housing segment: 8%, Other segment: 12% after 1/3rd abatement of value of land||Major construction materials, capital goods and input services used for construction of flats, houses, etc. attract GST of 18% or more.||ITC available and weighted average of ITC incidence is approximately 8 to10%.||Effective GST incidence, for affordable segment and for other segment has not increased as compared to pre- GST regime.|
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