Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 is applicable if the condition of credit linked subsidy scheme is availed under PMAY(Urban).
Classification of service— In the instant case, applicant is in the business of construction and selling of residential flats. They have informed that some of the customers are claiming that they are eligible for the benefit of PMAY scheme and hence insisting to pay a reduced rate of tax under Notification No. 01/2018 dated: 25.01.2018.
Question raised for advance ruling is as follows—
Applicability of Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 issued under the provisions of CGST Act, 2017 on amount received from the customers claiming the benefit of PMAY scheme.
Government of India in Notification No. 01/2018 dated: 25.01.2018 has inserted the entry in Notification No. 11/2017 against Serial No. 3, in column (3), in item (4) at sub item (db) by which, if a person is acquiring a dwelling under the credit linked subsidy scheme for economically weaker section fulfilling all the conditions and formalities from designated banks/financial institutions under such scheme then he is eligible for the concessional rate of tax under the said notification.
Held that— Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 is applicable if the condition of credit linked subsidy scheme is availed under PMAY(Urban).
Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 is applicable if the condition of credit linked subsidy scheme is availed under PMAY(Urban).
Classification of service— In the instant case, applicant is in the business of construction and selling of residential flats. They have informed that some of the customers are claiming that they are eligible for the benefit of PMAY scheme and hence insisting to pay a reduced rate of tax under Notification No. 01/2018 dated: 25.01.2018.
Question raised for advance ruling is as follows—
Applicability of Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 issued under the provisions of CGST Act, 2017 on amount received from the customers claiming the benefit of PMAY scheme.
Government of India in Notification No. 01/2018 dated: 25.01.2018 has inserted the entry in Notification No. 11/2017 against Serial No. 3, in column (3), in item (4) at sub item (db) by which, if a person is acquiring a dwelling under the credit linked subsidy scheme for economically weaker section fulfilling all the conditions and formalities from designated banks/financial institutions under such scheme then he is eligible for the concessional rate of tax under the said notification.
Held that— Notification No. 01/2018 of central tax (rate) dated: 25.01.2018 is applicable if the condition of credit linked subsidy scheme is availed under PMAY(Urban).