Builders must pass on the GST benefit to homebuyers: Experts – GST Station

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The benefits of investing in under-construction properties will outweigh the benefits of investing in ready-to-move-in homes under the new Goods and Services Tax (GST) regime. Landlords will not be burdened under GST as those who have given their property on rent for residential use will not be charged any GST.

To ease the woes for home buyers as well the real estate developers, the GST council is taking into consideration, two proposals that may effectively bring down the GST rate on under-construction properties. One being, implementation of a fixed lowered 12 per cent GST rate with full input tax credit (ITC) to the builder.

developers pass on the credits completely and bring down the base prices, then, home buyers may marginally benefit under the GST regime. Works Contract – Applicable Tax Rate: Initially, with the model GST Law, two types of rates were prescribed. – 12%-Construction of a complex, building, civil

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Find detailed information about Impact of GST on real estate in India, property prices, GST benefits, Impact on home buyers, Residential, Rental and Commercial property. Read also the experts opinion.

Here’s what you need to know about the estate tax. This tax applies on top of estate tax and gift tax. With the repeal of the GST tax for one year at the start of 2010, advisers are proposing a.

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GST: Builders Asks Full Payment With No Strong Reason June 22, 2017 Subodh Kumawat GST News & Updates Recently, the government have made some relaxed rules and regulations for the home-buyers and has also asked the builders community to take care of the newly incorporated laws .

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