Top 5 Common Myths of GST in Real Estate Debunked

The Goods and Services Tax (GST)—India’s biggest tax reform post-independence—was implemented on 1 July 2017. This new tax regime seeks to transform the Indian economy with its ‘One Nation, One Market, One Tax’ principle by subsuming a host of indirect taxes charged at varied rates by the Centre and states, therefore bringing uniformity in taxation across the country. Though its primary objective was to simplify the complex tax structure on the supply of goods and services, the reform created quite a stir due to its complex nature, due to which many myths about GST started making the rounds. Let us debunk some of these myths. To read more: http://realtyplusmag.com/top-5-common-myths-of-gst-in-real-estate-debunked/