건축주는 구매자에게 GST를 낮출 것 BUILDERS MUST PASS ON LOWER GST TO BUYERS: FINANCE MINISTRY
[REAL ESTATE NEWS] Good morning, everyone. I’m Youngjae Ko representative of Kamaindia Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as under mentioned.
BUILDERS MUST PASS ON LOWER GST TO BUYERS: FINANCE MINISTRY
NEW DELHI: The government on Thursday asked builders to pass on the benefit of lower tax under the GST system to buyers by reducing prices and instalments, otherwise the action will be violative of the anti-profiteering clause.
The builders are expected to pass on the benefit of lower tax burden under the Goods and Services Tax (GST) system to buyers of property by way of reduced prices/ instalments. It is, therefore, advised to all builders/construction companies that for flats under construction, they should not ask customers to pay higher tax rate on instalments to be received after GST imposition," a Finance Ministry statement said here.