The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has issued a circular to clarify GST rates applicable to allottees as deposited by real estate promoters and developers.

Key points:

1. GST rates for real estate projects are subject to revision by the GST Council. Promoters and developers must adhere to these revised rates.
2. For projects ongoing before April 1, 2019:
   • Promoters can opt for the old rates (Notification No. 11/2017) by manually submitting an application to the authorized assessing officer.
   • If no application is filed, the new rates effective April 1, 2019 (Notification No. 3/2019), will apply.
   • Once opted for old rates, switching to new rates is not permitted for that project.

Promoters and developers are advised to ensure compliance with the applicable GST rates for their projects.