New gst rates will increase cost of housing
Doesnt this go against the housing for all mission. Govt officials or gst experts please read attached and advise. more
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This is misleading article as present the builders are charging 7-9% net GST to buyer and this will now get lower at 5% only, so there will be transparency and clarity for buyer, as in present set off scheme, buyer is at mercy of builder who can decide any rate, so buyer is at advantage with new rates for sure and will benefit by 2-4% more
Feb 26
PL. OBSERVE: Relief for home buyers as GST Council announces rate cut for real estate The 33rd reconvened meeting of the Goods and Services Tax (GST) Council on Sunday lowered the tax rate for under-construction housing to five per cent (without input tax credit) from the present effective rate of 12 per cent (after one-third abatement of land). For affordable housing, the GST rate was reduced to one per cent from eight per cent. Addressing the media, Union Finance Minister Arun Jaitley said, “We have adopted twin definition of affordable housing. One, on the basis of carpet area and another, on the basis of cost. In metro cities, a 60 sq metre carpet area and Rs 45 lakh apartment will fall under affordable housing. In non-metro areas, it will be 90 sq metre carpet area and Rs 45 lakh apartment. This will come into effect from April 1.” more
Feb 24
on one hand we are trying to reduce the inventory of the houses built and in the finishing stages and this comes .When will have any clarity on this issue which is being discussed and discussed for such a long time and is it so diffcult to make it customer friendly more
Feb 24
