GST on un­der-con­struc­tion homes to be slashed to 5%, prom­ises FM

DNA Sunday (Mumbai) - - FRONT PAGE - Sud­hir Suryawan­shi sud­[email protected]­

Mum­bai: The Cen­tral gov­ern­ment has handed out a big pre-elec­tion bo­nanza to prop­erty de­vel­op­ers and buy­ers, by re­duc­ing GST on un­der­con­struc­tion houses, from 12 per cent to 5 per cent. GST on af­ford­able hous­ing, mean­while, will only be 3 per cent.

Fi­nance Min­is­ter Piyush Goyal held a meet­ing with CREDAI, the umbrella body of de­vel­op­ers, whereby he had promised that in the up­com­ing GST coun­cil meet­ing, tax on un­der-con­struc­tion houses and af­ford­able hous­ing would be re­duced sig­nif­i­cantly. Even in his Bud­get speech, Goyal had said his gov­ern­ment will re­duce GST on un­der-con­struc­tion houses. He also said that a com­mit­tee would study the im­pact of GST, and pos­si­ble so­lu­tions.

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