Relief for Home Buyers as GST Council Announces Rate Cut for Real Estate – PDF

There are two amendments under the new GST rates for real estate sector, announced on Sunday. The first amendment slashes the tax rate on under non-affordable construction housing property to 5 percent (Current rate 12 percent) with no input tax credit.

In the second amendment, the council cuts the GST rates on Affordable housing to 1 percent from the current tax rate of 8 percent. These amendments of GST tax rates will come into effect from 1 April 2019.