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No GST On Sale Of Properties With Complete Certificate

GSTGST
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The GST is applicable on sale of under construction
property, said Ministry of Finance

No GST On Sale Of Properties With Complete Certificate, Government
on Saturday said that buyers of real estate properties will not have to pay
Goods and Services Tax (GST) if they purchase the fully constructed property
after the issue of completion certificate. The GST is applicable on sale of
under construction property or ready-to-move-in flats where completion
certificate has not been issued at the time of sale, it said.

The Ministry of Finance further said that housing projects
in the affordable segment such as Jawaharlal Nehru National Urban Renewal
Mission, Rajiv Awas Yojana, Pradhan Mantri Awas Yojana or any other housing
scheme of state governments will attract GST of eight per cent.

"Builders are also required to pass on the benefits of
lower tax burden to the buyers of property by way of reduced
prices/instalments, where effective tax rate has been down," it said.

No GST On Sale Of Properties With Complete
Certificate, Government on Saturday said that buyers of real estate properties.

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