A- A A+
Last Updated : Sep 22 2019 8:19PM     Screen Reader Access
News Highlights
PM Modi to address Indian diaspora at Houston            Induction of Rafale aircraft in Indian Air Force will be a game-changer, says Air Force Chief            CBI court summons former UP CM Kalyan Singh in Babri Masjid demolition case            Aadhaar will be linked with driving licence, says Ravishankar Prasad            Ministry of Sports to create 20 National Centres of Excellence to groom athletes           

National News

Feb 25, 2019
11:54AM

Trade bodies welcome rate cut in GST on real estate

FILE PIC
Various trade bodies have lauded the GST Council decision on Goods and Services Tax rate cut on real estate. 

Director General of Confederation of Indian Industry (CII) Chandrajit Banerjee said the GST Council's decision will address the needs of home buyers and boost offtake of housing. 

National Real Estate Development Council President Niranjan Hiranandani lauding the decision, said this will give big relief to the home buyers. 
Terming the decision as revolutionary, CREDAI President Jaxay Shah said, this move is a significant triumph for home buyers and will play a huge hand in boosting their sentiments.
In a big relief to home buyers, the GST Council has slashed tax rates on under-construction housing properties to 5 per cent without input tax credit, from the existing 12 per cent. 

Briefing reporters after GST council meeting in New Delhi on Sunday, Finance Minister Arun Jaitley said, the Council also cut GST rates on affordable housing to one per cent from the current 8 per cent. 

The Council also expanded the scope of affordable housing to those costing up to Rs. 45 lakh and measuring 60 square metres in metros and 90 square metres in non-metro cities. 
The new tax rates will come into effect from the first of April.

Mr Jaitley said, the GST reduction will certainly give boost to construction sector.

   Related News

Live Twitter Feed

Listen News

Morning News 22 (Sep) Midday News 22 (Sep) News at Nine 21 (Sep) Hourly 22 (Sep) (2000hrs)
समाचार प्रभात 22 (Sep) दोपहर समाचार 22 (Sep) समाचार संध्या 21 (Sep) प्रति घंटा समाचार 22 (Sep) (1900hrs)
Khabarnama (Mor) 22 (Sep) Khabrein(Day) 22 (Sep) Khabrein(Eve) 21 (Sep)
Aaj Savere 22 (Sep) Parikrama 22 (Sep)

Listen Programs

Market Mantra 22 (Sep) Samayki 21 (Sep) Sports Scan 21 (Sep) Spotlight/News Analysis 21 (Sep) Samachar Darshan 20 (Sep) Radio Newsreel 21 (Sep)
    Public Speak

    Country wide 19 (Sep) Surkhiyon Mein 19 (Sep) Charcha Ka Vishai Ha 18 (Sep) Vaad-Samvaad 3 (Sep) Money Talk 3 (Sep) Current Affairs 20 (Sep)