Home Loans - GST payable for under-construction flat will be now 5% by Arun Jaitley

Home Loans - GST payable for under-construction flat will be now 5% by Arun Jaitley

The GST Council today announced a cut in the goods and services tax charged on sales of residential properties under construction. The Goods and Services Tax Council, comprising state and federal finance ministers, announced that the new rate will be 5 percent, down from the current 12 percent, on all housing projects which were not in the affordable housing category.

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