GST on under-construction houses may be cut to 5%

The GST Council is expected to reduce GST on under-construction houses to 5% and on affordable ones to 3% without allowing input tax credit, from the existing level of 12% and 8%. The council in its last meeting formed a group of ministers under the chairmanship of Gujarat deputy CM Nitin Patel to evolve a consensus rate of GST.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2DT6kDr

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