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Pre-poll gambit: on reduction of GST on under-construction properties

Reduction in rates brings cheer to real estate sector, but unsettles the GST regime On Sunday, the Goods and Services Tax Council recommended a dramatic reduction in the headline indirect tax rates payable on under-construction properties. The GST rate payable on affordable homes, with effect from April 2019, will come down from 8% to 1%,…

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GST rate cut on under-construction properties: Explained in 10 points

NEW DELHI: Buying your dream flat will be cheaper from 1 April as the government has not only slashed the goods and services tax (GST) rates on all under-construction flats but also widened the definition of the affordable housing segment. After the GST Council meeting yesterday, finance minister Arun Jaitley had said the relief provided…

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First Cut | GST on real estate slashed – will there be any impact on prices? – Moneycontrol.com

In a move to cheer homebuyers, the government has doled out one more pre-election sop by slashing the Goods & Services Tax (GST) rate on properties under construction from 18 percent (effective GST of 12 percent and 6 percent abatement for land) to 5 percent. The Council also cut GST rate on affordable housing to a…

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Home buyers seek banks’ support in forensic audit of Jaypee

NEW DELHI: Home buyers of Jaypee Infratech (JIL), which is currently undergoing its second round of corporate insolvency resolution process, are demanding support of banks for an independent forensic audit of the financials of the company.In a recently concluded meeting of committee of creditors, this demand of home buyers was blocked by the banks.“Such resistance…

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Explained: What GST rate cut for real estate mean for home buyers

Currently, GST is levied at 12 per cent on payments made for under-construction property. The reconvened meeting of the 33rd Goods and Services Tax (GST) Council on Sunday lowered GST rate for under-construction housing to 5 per cent (without input tax credit) from present effective rate of 12 per cent (after one-third abatement of land).…

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Relief for home buyers as GST Council announces rate cut for real estate – The Indian Express

Union Finance Minister Arun Jaitley chaired the GST Council meeting on Sunday. (Twitter/@arunjaitley) 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…

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