[email protected] | GST relief for real estate

Image result for Macro@Moneycontrol | GST relief for real estateThe GST Council on February 24 slashed tax rate on under-construction residential properties to 5 percent from the earlier 18 percent and for affordable houses to 1 percent from 8 percent.

The relief is likely to benefit homebuyers, real estate developers as well as housing finance companies.

Consumers have been complaining that the builders haven’t been passing the input tax credits hence the GST Council has done away with ITC.

Sakshi Batra gets in conversation with Moneycontrol Deputy Executive Editor, Gaurav Choudhury will to explain the extent of benefit.