Is GST applicable on under construction flats?

Yes, GST on flat purchase under construction is applicable.

Is there any GST applicable on a home loan?

When someone opts for a home loan, they have to pay GST to the bank for the legal, technical valuation, and processing fees.

What is the GST rate for new flat purchase?

As of April 1, 2019, the revised and updated GST on flat purchase of affordable residential units is 1% without ITC. However, the GST rate on expensive residential units is 5% without ITC.

Who must pay the GST applicable on flat purchases?

If someone is investing in or purchasing an under-construction property in India, they are liable to pay GST on new housing properties or completed apartments and flats.