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기존 GST와 새 체제 중 하나를 선택하기 위해 완공되지 않은 주거용 건물 Residential buildings not completed to choose between old GST and the new regime
Residential buildings not completed to choose between old GST and the new regime

[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Jung Hayeong staff of Kamagroup Pvt. Ltd.
Here I have an important INDIAN REAL ESTATE news to share with you which is as undermentioned
All residential buildings not completed before March 31, 2019, will have the option to choose between the old goods and service tax (GST) and the new regime announced last month.

The new regime, that provides a lower GST rate but without input tax credit, will be mandatory for all new projects launched after April 1. The transition plan was approved by the GST Council on Tuesday giving flexibility to the real estate sector.

The GST rate for the sector under the earlier regime that provides a lower GST rate but without input tax credit, will be mandatory for all new projects launched after April 1. The transition plan was approved by the GST Council on Tuesday giving flexibility to the real estate sector.

The GST rate for the sector under the earlier regime stood at 12% with input tax credit and 5% without input tax credit for economically weaker sections. In the previous meeting on February 24, the Council had slashed rates for under-construction flats to 5% without input tax credit for economically weaker sections. In the previous meeting on February 24, the Council had slashed rates for under-construction flats to 5% and for affordable homes to 1% from 8%, effective April 1. However, there will be no input credit for these rates that will be effective from April 1.

Read more at:
//economictimes.indiatimes.com/articleshow/68481732.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst



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