Builders will have to refund GST paid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds, the tax department has said. This clarification forms part of the FAQ released by the Central Board of Indirect Taxes and Customs (CBIC)…
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RERA is friendly for homebuyers and the major problem of delays in projects has been looked into and taken care of – earlier the buyers used to feel helpless and lost even money. RERA has forced real estate developers to bring transparency into the process while dealing with the homebuyers. They have to make reasonable…
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RERA has identified challenges in the last two years of execution and has a long way to go in making the real estate sector more efficient and transparent. The Indian Real estate sector albeit having faced upheavals initially due to the implementation of RERA (Real Estate regulation Act) since its inception two years back, is…
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There may be further GST (Goods & Services tax) relief for home buyers with the Authority on Advance Ruling (AAR) in West Bengal concluding that services such as preferential location and facilities like car parking in apartments should be treated as “composite construction service” and attract the same levy as construction. Highlights: After the ruling,…
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