Real estate companies that opted for lower GST rates of 1 per cent and 5 per cent from April 1, 2019, but could not procure 80 per cent of the total supplies from registered dealers, will have to pay tax on the shortfall in such procurement by June 30.The GST Council had allowed real estate players to shift to 5 per cent GST rate for residential units and 1 per cent for affordable housing without the benefit of input tax credit (ITC) from April 1, 2019.In an instruction to Principal Chief Commissioners of Central Tax on June 24, the Department of Revenue said it has been decided that in case of shortfall from the said threshold of 80 per cent, the promoter/developer shall pay the tax on the value of input and input services comprising such shortfall and this tax shall be paid through a prescribed form electronically on the common portal by the end of the quarter following the financial year. Accordingly, for the financial year 2019-20, tax on such shortfall is to be paid by June 30, 2020.