Will there be a reduction in the GST percentage for purchasing flats under construction, as announced by Mr. Arun Jaitley in the 31st Council of GST?

Asked on January 28, 2019 in Miscellaneous.
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1 Answer(s)

“Arun Jaitley wants a reduction on under construction flats from 12% to 5% by removing input tax credit just like restaurants but some states opposed due differences in land prices across states

Gst council has only formed a committee of the group of ministers which will study in details the implications of such decision and give recommendations

Until then

you have to wait

or buy flat in a completed project or second-hand flat which carries no GST

Or look for a developer who will pass you an input tax credit and lower your GST burden”

Answered 4 days ago.
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Gen GST