Goan Developers 'Happy' for dual GST rates on ongoing housing projects

With two GST rates on incomplete housing projects its looks like builders now have no grounds for complains. To the slew of fiscal changes coming in the way of the real estate industry post-GST, the announcement of dual tax rates on ongoing housing projects is the latest. It has left builders with very little ground for complain and deferred possible increase in housing rates. Builders were previously grumbling over the loss of input tax credit and threatening to raise housing rates as compensate. They now have the choice of accepting input credit with higher tax or vice versa. All in all the incentive is expected to keep home prices steady and boost buying sentiments in the residential segment. Meanwhile in Goa, realty developers view the dual tax rates on their sector positively.