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GST Impact on Real Estate
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string(160) "Hello Friends, GST Debate is on in LS. Wanted to know the impact of GST on real estate. GST will be applicable from 1st July 17. 1. There would be only one tax"
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string(875) "Hello Friends,
GST Debate is on in LS. Wanted to know the impact of GST on real estate. GST will be applicable from 1st July 17.
1. There would be only one tax meaning VAT & Service Tax, SD- will go away?
2. The Double taxation for builder wont be there like sales tax, custom tax etc? Will this bring property prices down?
3. Will GST be applicable to already purchased but under construction properties as well or only all new properties (RTM or under construction) purchased post 1st July is unclear?
4. I had visited few sites in Tathwade/Wakad & they are saying that GST might shoot taxes to 18%?
5. If we see recent decisions by Government the taxes might be lower for affordable houses that are pricing less that 40-50 lac? Meaning Luxury flats have to pay more taxes?
Please share your views, would it be wise to hold flat booking till GST gets rolled out?
Regards"
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GST Debate is on in LS. Wanted to know the impact of GST on real estate. GST will be applicable from 1st July 17.
1. There would be only one tax meaning VAT & Service Tax, SD- will go away?
2. The Double taxation for builder wont be there like sales tax, custom tax etc? Will this bring property prices down?
3. Will GST be applicable to already purchased but under construction properties as well or only all new properties (RTM or under construction) purchased post 1st July is unclear?
4. I had visited few sites in Tathwade/Wakad & they are saying that GST might shoot taxes to 18%?
5. If we see recent decisions by Government the taxes might be lower for affordable houses that are pricing less that 40-50 lac? Meaning Luxury flats have to pay more taxes?
Please share your views, would it be wise to hold flat booking till GST gets rolled out?
Regards
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