Category: sector

Explainer | What does GST Council’s transition plan for new taxes in real estate sector mean – Moneycontrol.com 0

Explainer | What does GST Council’s transition plan for new taxes in real estate sector mean – Moneycontrol.com

The GST Council has now permitted real estate developers to exercise one time option between old GST rates and the new ones for under-construction residential projects to help resolve issues pertaining to input tax credit. This, as per real estate experts, will provide flexibility to realtors to go for the best possible tax option.What this means is that…

GST Council approves transition plan for new tax rates for real estate sector – Moneycontrol.com 0

GST Council approves transition plan for new tax rates for real estate sector – Moneycontrol.com

The GST Council on March 19 allowed builders to choose between higher rates with input tax credits (ITC) on raw material or lower duties without any such benefits for unfinished projects.The Council, headed by Finance Minister Arun Jaitley, which met through video conferencing in New Delhi, decided that builders can pick between paying 12 percent…