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Why GST Council recommendations may not bring cheer to real estate sector

The existing effective rate of 12 per cent GST (with ITC) should continue for commercial properties

Topics
Real Estate  |  Gst Council  |  Affordable Housing

Sudipta Bhattacharjee 

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 housing” properties and at 5 per cent for other properties. (ii) A new definition of ...

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First Published: Sun, March 03 2019. 21:54 IST
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