No Result
View All Result
  • Login
Tuesday, August 16, 2022
Afternoon Voice
SUBSCRIBE
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
Afternoon Voice
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Epaper
  • More

Home > Business > Budget & Policies > 5% GST on realty favourable for homebuyers, builders

5% GST on realty favourable for homebuyers, builders

admin@afternoonvoice.com' by Web Team
February 21, 2019
in Budget & Policies
A A
0

The proposed bid by the Centre to reduce GST on the under-construction houses to a maximum of 5 per cent without input tax credit (ITC) has been welcomed by developers who think it will revive demand.

“We are looking forward to 5 per cent GST without ITC though it will hurt the builders in the short run. We expect the demand for under construction housing will revive and will offset the impact in the long run,” Credai Bengal president Nandu Belani told media.

This is a critical matter and the outcome will have a notable impact on real estate market sentiment, Anarock property consultants chairman Anuj Puri said.

Currently, despite a provision in place for receiving ITC, buyers are unsure about how and when they will receive this benefit. Therefore, a flat 5 per cent GST without ITC is the best option for buyers, it said.

“Even a small increase in sales on the back of reduced GST will give some relief to developers funding issues by catalysing sales to some degree. To that extent, developers will see some improvement in their balance sheets,” Anarock said in a note.

The move is expected to benefit government also. The current 12 per cent GST prompts buyers to opt for ready-to-move-in properties which are exempt from this high tax.

A move to slash GST rates to 5 per cent will help attract more buyers to under-construction properties, on which stamp duty and registration can be charged, the consultant observes.

The government decision on reduction of GST slab to five per cent and three per cent for premium and affordable housing has been deferred to February 24.

Tags: GovernmentGSTGST ratesITCproperty consultantreal estate market
admin@afternoonvoice.com'

Web Team

Recommended For You

Udaipur Murder Case, Crime Scene do not cross, Police line,
Budget & Policies

MHA orders the NIA to investigate the “brutal” murder of a tailor in Udaipur and any international connections

June 30, 2022
food safety.fssai,food safety and standards authority of india
Budget & Policies

FSSAI calls for visible labelling of high fat, sugar and salt contents on packaged foods

June 27, 2019
TRAI to hold consultation with BSNL, MTNL on allocation 4G spectrum: RS Sharma
Budget & Policies

TRAI to hold consultation with BSNL, MTNL on allocation 4G spectrum: RS Sharma

March 26, 2019
FPI outflows at nearly Rs 6,000 crore in January
Budget & Policies

Govt garners Rs 700 cr via first ever sale of enemy shares

March 24, 2019
Govt banking on advance tax collection to meet direct tax target of Rs 12 lk cr
Budget & Policies

Govt banking on advance tax collection to meet direct tax target of Rs 12 lk cr

March 15, 2019
WPI inflation rises to 2.93% in February
Budget & Policies

WPI inflation rises to 2.93% in February

March 14, 2019
ADVERTISEMENT

LATEST

Dharmendra Pradhan urges citizens to participate in the ‘National Curriculum Framework Survey’

Dharmendra Pradhan urges citizens to participate in the ‘National Curriculum Framework Survey’

August 16, 2022
bilkis bano, godhra case, godhra kand, gujarat 2002, gujarat riots, 2002 gujarat riots, court, high court

Bilkis Bano can never get justice, and then she was raped and now stunned

August 16, 2022
Mohsin Ahmad, NIA, Mohsin, National Investigation Agency, Terror, Terorist

NIA court sends ISIS active member to one-month judicial custody

August 16, 2022
Giriraj Singh says, ‘Mahagathbandhan’ formed out of ‘Selfish Interest’

Giriraj Singh says, ‘Mahagathbandhan’ formed out of ‘Selfish Interest’

August 16, 2022
Irish Cricketer Kevin O’Brien announces retirement from international cricket

Irish Cricketer Kevin O’Brien announces retirement from international cricket

August 16, 2022
ADVERTISEMENT
Afternoon Voice

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Important Links

  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

Follow Us

No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?