Reduction in GST rates of under construction houses in real estate sector

Good morning steemains🙏

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Today the people of the industry expressed happiness at the reduction of GST rates in GST's real estate sector and affordable houses and affordable houses.

People in the industry said in a tone that the decrease in GST rates in the real estate sector will increase its demand and encourage it to get the dream of housing for all.

Now those who dream of having their own home, have received this gift. In GST rates, which have been made in the construction of houses, the deduction has now been done. Now GST will be 5 percent on the projects under construction. At the same time, it will be only 1% on affordable projects.

In this, the developer will not get any input tax credit

The GST rate was 12% now, it has been reduced to 5 percent and which was eight percent before it got approved for a percentage of the reduction.

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