As per para 5 of Schedule III, sale of land is not a supply under GST and as such GST is not applicable on sale of land. 3 (i),(ia),(ib),(ic),(id)]This option covers construction of Residential Apartments in Residential Real Estate Projects or Real Estate Projects; and Commercial Apartments in Residential Real Estate Projects only. The tax rates under this option are as follows:TYPE GST RATE GST RATE (Considering Prescribed Valuation) Affordable Residential Apartment * 1.50 1.00 Residential Apartment 7.50 5.00 Commercial Apartment in a Residential Real Estate Project only. 7.50 5.00*Affordable Residential Apartments are those apartments which fulfill both the following conditions:a) Does not exceed 60 sq. The court ruled that in cases where value of land is ascertainable, actual value of land shall be deducted from total consideration.