GST relief for real estate

The GST Council on February 24 slashed tax rate on under-construction residential properties to 5 percent from the earlier 18 percent and for affordable houses to 1 percent from 8 percent. The relief is likely to benefit homebuyers, real estate developers as well as housing finance companies. Con

BY admin
Published - Saturday, 02 Mar, 2019

The GST Council on February 24 slashed tax rate on under-construction residential properties to 5 percent from the earlier 18 percent and for affordable houses to 1 percent from 8 percent. The relief is likely to benefit homebuyers, real estate developers as well as housing finance companies. Consumers have been complaining that the builders haven't been passing the input tax credits hence the GST Council has done away with ITC.