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GST : A significant impact to buyers and builders ?>

GST : A significant impact to buyers and builders

As per the latest GST council meeting recently, GST rates of all the under-construction houses or apartments are reduced to 5% (from the present 12%) and 1% on affordable housing which is currently 8% has redefined the buying capacity of affordable housing. In a tier 1city, a residential space of 60sq metres costing around 45 lakhs is said to be an affordable house. This recent reduction of GST has made a significant impact on both buyers and builders. The same…

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GST And Its Effect on Home-Buyers ?>

GST And Its Effect on Home-Buyers

Ever since the implementation of GST, home buyers across the country are left with many unanswered questions. People are still unsure whether this new law would increase the property rates or reduce it; or would it even have any effect at all. In reality, GST is introduced to simplify multiple indirect taxes, tax compliances and reduce the scope for double or additional taxation. So, there is an obvious reason for home buyers to be happy, even if there‚Äôs only a…

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FONRWA welcomes GST exemption on housing society RWAs ?>

FONRWA welcomes GST exemption on housing society RWAs

Goods and Services Tax, also known as GST is the talk of the nation nowadays. GST is a tax applicable all over the nation which will flush out all the other taxes by the central and state governments. Every service in India will now have just one tax, which is the Goods and Service Tax. Although, the services provided by housing societies Resident Welfare Association will increase its amount under Goods and Services Tax. The RWA will only pay the…

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