Note on GST w.r.t. Proposed Changes in Real Estate The GST council has proposed to reduce the GST on under-construction properties from 12% to 5% and on affordable housing from 8% to 3% without Input Tax Credit (ITC). Now, while most developers are welcoming this move and hailing it as a game changer- we need […]
With the new GST law coming into force w.e.f. 1st July 2017, all businesses are busy analyzing the sectoral and business impact of this single biggest tax reform in the history of India. While many hail this reform as a game changer which would simplify indirect taxation and reduce tax by removing the cascading effect, some businessman are also concerned about increased compliances
