While welcoming the lowering of Goods and Services Tax (GST) rate cut from 8 per cent to 1 per cent on affordable housing and other housing from 12 to 5 per cent, the real estate body Naredco however said that GST rate cut with no input tax credit will put pressure on developers’ margin and…
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The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 per cent in its meeting next month, an official said. Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued…
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