Indore Realtors’ GST choice to make houses morevalued

Indore Realtors’ GST choice to make houses morevalued
28/05/2019 , by , in News/Views

Houses may get dearer as over 90 per cent realtors have opted for the lowered Goods and Services Tax (GST) slabs without Input Tax Credit (ITC) that is seen escalating the cost of construction for builders.

Confederation of Real Estate Developers of India (CREDAI) Indore chapter said that most of the builders had opted for the lower tax slab as customers were not ready to pay higher GST.

Realtors were given a one-time option to choose between 1 per cent or 5 per cent tax rate without ITC for affordable and non-affordable houses respectively applicable from the new financial year or continue with higher tax rate of 8 per cent and 12 per cent respectively with ITC.

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