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Wednesday, March 20, 2019

GST Council approves transition plan for brand spanking new tax prices for real estate


The all-effective GST Council approved a transition plan for the implementation of recent tax shape for housing units.

An inexpensive time for transition may be given to developers in session with states.

The meeting deliberated at the transition provision and associated troubles for the implementation of decrease GST quotes for the actual estate quarter.

The Council had in its last assembly on February 24, slashed tax quotes for underneath-construction residences in the low-cost class to 1 per cent. GST price on other categories changed into decreased to 5 in line with cent, powerful April 1.

GST charges for brand new projects might be obligatory from April 1.

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