INSUBCONTINENT EXCLUSIVE:
also consider a recommendation of a Group of Ministers (GoM) on housing that advocates 5 per cent GST in under-construction properties and 3
per cent GST for affordable housing.The GoM had earlier recommended 5 per cent GST without input tax credit (ITC) on under-construction
of Rs 13,000 crore annually to the government but with election drawing closer, the government is keen to ensure the GST cut benefits the
once before the GST Council meeting takes place on February 20 could also change the definition of affordable housing to accommodate more
poor people under 3 per cent tax rate
Currently, affordable houses are defined up to 50 square metres of carpet area which is likely to be increased to 80 square metres to
Association had demanded a cut in GST to 18 per cent as it would boost infrastructure spending and create jobs while reducing the costs of
