How has GST changed the functioning of Real Estate?

By Accommodation Times Bureau On the completion ‘One Year of GST’ various real estate players, housing finance firms, and others expressed their views on it and even gave the suggestion of what needs to be changed. The experts are CEO, MD, and CMD of their firm/company.   Arvind Hali, MD and CEO, ART

Effects of GST on the Real Estate

By Accommodation Times Bureau With the recent issue of the GST, one should first get to know what it really is. GST stands for ‘Goods And Services Tax’. It can be simply defined as the tax levied on every supply of goods and services. The passing of this bill will be

FAQs on GST on Real Estate

By Accommodation Times Bureau   Q. 1) Whether sale of a Flat / House by a builder / developer is a supply of a service or a sale of immovable property under GST law? Ans. 1) As per the clause 5(b) of the Schedule II of CGST, Act, 2017, construction of a flat / house

Effective GST rate on under-construction real estate at 12%

By Accommodation Times Bureau The effective GST rate on under- construction real estate projects will be 12 per cent only and not 18 per cent as there will be abatement for land cost, according to tax consultant EY. Realtors' body CREDAI President Jaxay Shah also said that the effective GST rate would remain at 12

Real Estate Industry awaits clarity on GST aspects

While the goods and services tax (GST) tax structure has been announced, the real estate industry is waiting with bated breath to see which tax rate is applied to the real estate and construction industry. Given the Finance Minister’s clarification that the highest tax slab will be applicable to ‘sin’ items