{"id":19957,"date":"2019-06-18T16:36:32","date_gmt":"2019-06-18T11:06:32","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?page_id=19957"},"modified":"2020-06-08T00:41:39","modified_gmt":"2020-06-07T19:11:39","slug":"relief-for-home-buyers-as-gst-council-announces-rate-cut-for-real-estate","status":"publish","type":"page","link":"https:\/\/enterslice.com\/learning\/whitepapers\/relief-for-home-buyers-as-gst-council-announces-rate-cut-for-real-estate\/","title":{"rendered":"Relief for Home Buyers as GST Council Announces Rate Cut for Real Estate &#8211; PDF"},"content":{"rendered":"<p class=\"has-drop-cap\">There are two amendments under the new <a href=\"https:\/\/enterslice.com\/learning\/new-gst-rates-for-real-estate-relief-for-homebuyers\/\"><strong>GST rates for real estate<\/strong><\/a> sector, announced on Sunday. The first <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>amendment<\/a> slashes the tax rate on under non-affordable construction housing <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Property refers to the legal designation of ownership over valuable items or assets held by an individual or a business. This ownership grants the holder certain legal rights to use, consume,(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/property\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>property<\/a> to 5 percent (Current rate 12 percent) with no input tax credit.<\/p>\n\n\n\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are two amendments under the new GST rates for real estate sector, announced on Sunday. The first <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\" href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>amendment<\/a> slashes the tax rate on under non-affordable construction housing <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Property refers to the legal designation of ownership over valuable items or assets held by an individual or a business. This ownership grants the holder certain legal rights to use, consume,(...)&lt;\/div&gt;\" href=\"https:\/\/enterslice.com\/learning\/terms\/property\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>property<\/a> 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 [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":33297,"parent":15144,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"download-newsletter.php","meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Relief for home buyers as GST Council announces rate cut for real estate<\/title>\n<meta name=\"description\" content=\"Relief for home buyers as GST Council announces rates cut for real estate. 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