AAR, New promoter bound by previous 12% GST option with ITC for ongoing project: Case of Godrej Residency Private Limited, AAR Maharashtra Ruling Dated 27th March 2025. AAR ruled that the new promoter, is bound by the option exercised by the previous promoter to pay GST at the effective rate of 12% with input tax credit for the sale of all residential premises in the “One Mahalaxmi” project, including those already sold and those to be sold to new customers. The applicant cannot opt for the new GST rate of 5% without ITC. The one-time option is qua the project, ensuring a uniform tax rate throughout its completion, irrespective of changes in the promoters. (AAR Maharashtra Ruling Dated 27/03/2025)