Good news! This is how you can realise your dream home now
Updated: February 25, 2019 19:03 pm
GST Council on Sunday slashed tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent, effective April 1 to boost demand in the real estate sector. Currently, the goods and services tax (GST) is levied at 12 per cent with input tax credit (ITC) on payments made for under-construction property or ready-to-move-in flats where completion certificate is not issued at the time of sale. For affordable housing units, the existing tax rate is 8 per cent.