GST on Real Estate Sector
Real estate sector is one of the important pillars of the Indian economy. It contributes around 6-8% of the India’s GDP and it stands 2nd after the IT industry.
Impact of GST on Real Estate Sector: -
Real Estate sector is a broad term, which demands different types of treatments under GST for various types of transactions.
Impact on Buyers: -
Impact on Developers/Builders/Contractors: -
GST Rates for some of the goods relating to the construction industry are given below:
|Product||Rate of GST|
|Sand & Fly ash Bricks||12%|
|Marble and granite||28%|
Disclaimer:“Information contained herein is for informational purposes only and should not be used in deciding any particular case. The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Though utmost efforts have been made to provide authentic information, it is suggested that to have better understanding and obtaining professional advice after thorough examination of particular situation.”
A Satish Kumar Sarab