On 33rd gst Council meeting
announced that rate of gst is reduced to 5% without taking input. In this scenario cost of the construction should increase. But all news paper reports are showing in real estate sector have big boom like that. But actually its negative impact on real estate sector. This is my view in new gst regime. Kindly advise anyone who involved more in the case and how overcome this situation
Earlier rate was 8% for affordable housing residential projects , now it is 1% without ITC
Earlier rate was 12% for houses other than affordable housing residential projects, now it is 5% without ITC
so it will be beneficial to customer, no loss or profit to builder, revenue of government will increase
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