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Boost for home buyers, GST rates on real estate slashed

Feb 24, 2019 20:18 IST

In a big boost to middle class home owners and home buyers, the govt has slashed the GST on under-construction houses to 5%, while taxes on affordable housing has been lowered to 1%. The decision was taken at the 33rd meeting the GST Council chaired by Finance Minister Arun Jaitley and the move comes into effect from the 1st of April. The GST for under-construction properties where completion certificates have not been issued is currently 12%.

National