GST Council approves transition plan for a 5% rate for under construction flats, and 1% for affordable housing

On 19 March 2019 at GST Council meeting, they passed a new tax structure for the property. As per the decision made by the council, builders have the chance to choose between old tax structure with an input tax credit (ITC) or the new 5% and 1% rates without ITC for their under-construction projects. They … Continue reading “GST Council approves transition plan for a 5% rate for under construction flats, and 1% for affordable housing”