Realty companies have time till Jun 30 to pay GST on shortfall in input procurement from dealers

Real estate companies will have to pay taxes by 30^th June. Those real estate companies who had opted to pay GST at lower rate of 1 per cent and 5 per cent from April 1, 2019, but could not procure 80 per cent of the total supplies from registered dealers, will have to pay tax on shortfall in such procurement by 30^th June. On such shortfall amount, companies would be subject to goods and services tax (GST) to be paid by real estate developers at the rate of 18 per cent on supplies used as inputs or input services and 28 per cent for cement.

https://economictimes.indiatimes.com/industry/services/property-/-cstruction/realty-companies-have-time-till-jun-30-to-pay-gst-on-shortfall-in-input-procurement-from-dealers/articleshow/76673096.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst