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GST cut will boost housing, input tax credit to sting, say industry, experts

New Delhi, Feb 24 (IANS) The housing industry on Sunday hailed the decision of the GST council to lower tax on under-construction housing properties to 5 per cent from 12 per cent, and on affordable housing to 1 per cent from 8 per cent. The Council also made changes in the definition of affordable housing carpet area and cost. Properties costing up to Rs 45 lakh will now be considered as affordable. Houses with a carpet area of 90 square metre in metro cities and 60 square metre in non-metro cities will be considered affordable, the Council said. Abhishek […]

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