GST Council recommendations on real estate: Affordable housing projects may enjoy price cut benefits.
Sudipta Bhattacharjee, partner, Advaita Legal, explains why the recent recommendations by GST Council may not bring cheer to the real estate sector What are the key recommendations? Following changes were recommended with effect from April 1, 2019: (i) GST at 1 per cent, without benefit of input tax credit (ITC), on under-construction residential properties/ready-to-move residential properties where completion certificate is pending which qualify as “affordable ...
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