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Big News for Affordable Housing: Zero or 3% GST on The Cards
February 11, 2019
To woo more buyers in the real estate market, the government is mulling over two bold moves which are charging zero GST on properties that are categorized under “affordable housing”, or charging a 3% GST rate instead.
A government official said that the central government is favoring the zero GST rate on affordable housing. However, the states are unlikely to agree to that and prefer the 3% rate, they said. It’s worth noting that the builders have proposed another option which is to levy a 7.2% tax rate along with input tax facility.
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