GST on builders: Notification No. 11/2017 rate

GST rates on builders as notified by CBEC. Value of land will be excluded and will be assumed as 33%.

Inclusion of value of land for GST on builders:

In case of supply of construction services  involving transfer of property in land or undivided share of land, as the case may be, the value of supply of service and goods portion in such supply shall be equivalent to

The total amount charged for such supply

less: The value of land or undivided share of land, as the case may be,

The value of land or undivided share of land, as the case may be, in such supply shall be deemed to be one third of the total amount charged for such supply.

Explanation .– For the purposes of paragraph 2, “total amount” means the sum total of,-

(a) consideration charged for aforesaid service; and

(b) Amount charged for transfer of land or undivided share of land, as the case may be.