GST News
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)…
Already bought a house? New GST rates may not apply to you Developers can choose between the old and new GST rates for existing under-construction projects Any new under-construction project that is launched after 1 April will have to adhere to new GST rates The change Before the February GST Council meeting, the GST on…
Union and state governments on Sunday decided to lower Goods and Services Tax (GST) on under construction housing properties to 5% from an effective 12% in a pro-consumer decision ahead of national polls due by April-May. GST rate on affordable housing projects too has been lowered from an effective 8% to 1%. Under-construction properties priced upto Rs. 45 lakh…
No GST on affordable housing buyers! Big step by Modi govt; here is what every flat buyer and builder must know. This is really a big step from Modi government. It will give a huge relief to affordable housing buyers. The Modi government has asked builders not to charge any GST from home buyers as the…