Swarajya Logo
Swarajya Logo
Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Our Views
    Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Magazine
  • Store

About Swarajya

Swarajya is a publication by Kovai Media Private Limited.

Swarajya - a big tent for liberal right of centre discourse that reaches out, engages and caters to the new India.

editor@swarajyamag.com

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Participate

  • Contact Us
  • Write for us
  • Style Guide
  • Jobs

Stay Connected

  • Artboard 2 Copy 6Created with Sketch.
    Artboard 2 Copy 10Created with Sketch.
    Artboard 2 Copy 7Created with Sketch.
    Artboard 2 Copy 9Created with Sketch.
  • Andriod Logo
  • IOS Logo

Insta

Good News For Home Buyers: No GST On Buildings With Completion Certificate 

Swarajya StaffMonday, December 10, 2018 10:51 am IST
Representative Image. (Scott Barbour/Getty Images)
Representative Image. (Scott Barbour/Getty Images)
Representative Image. (Scott Barbour/Getty Images)

Goods and Services Tax (GST) will not be applicable for real estate properties which are issued with a completion certificate during the sale, said Finance ministry on Saturday (8 December), in a move to reduce the tax burden.

However, properties under construction and ready to move in flats without the completion certificate will still attract GST during the sale, reported Live Mint.

Builders have been urged by the ministry to reduce prices and pass on benefits of lower GST rates to customers.

For affordable housing projects such as Jawaharlal Nehru National Urban Renewal Mission, Pradhan Mantri Awas Yojana and other schemes of state government, 8 per cent GST will be levied. Builders can adjust that tax with an accumulated input tax credit (ITC). Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount.

“For such (affordable housing) projects, after offsetting ITC, the builder or developer in most cases will not be required to pay GST in cash as the builder would have enough ITC in his books of account to pay the output GST,” said the ministry.

Tags
Finance Ministry
Goods and Services Tax
Indian Real Estate
Pradhan Mantri Awas Yojana (PMAY)
Houses

Comments ↓

An Appeal...


 

Dear Reader,

 

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

 

Our business model is you and your subscription.  And in challenging times like these, we need your support now more than ever.

 

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

 

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Get Swarajya in your inbox.


Magazine


Swarajya Magazine Cover Image
Merchandise

Merchandise


    Politics

    Rahul Gandhi To Miss Parliament's Winter Session? Trips Planned To Indonesia, Singapore, Malaysia, Vietnam: Report

    Rahul Gandhi To Miss Parliament's Winter Session? Trips Planned To Indonesia, Singapore, Malaysia, Vietnam: Report

    Nishtha Anushree
    2h

    Tamil Nadu Dashboard: ED Summons To Dist Collectors Stayed By Madras HC; Senthil Balaji Refused Bail On Medical Grounds

    Swarajya Staff
    2h

    State Elections: 18 Per Cent Candidates Grapple With Criminal Cases, Maximum In CPI (M), BRS Next, Reveals Report

    Nayan Dwivedi
    4h

    Economy

    Automobile Retail Sales Hit Record 3.793 Million Units This Festive Season, Surging 19 Per Cent YoY: FADA Report

    Automobile Retail Sales Hit Record 3.793 Million Units This Festive Season, Surging 19 Per Cent YoY: FADA Report

    Nayan Dwivedi
    8h

    Public Sector Is Finally Beginning To Shine Under Modi's Ministrations

    R Jagannathan
    1d

    India's Divestment Struggles Continue As Government Falls Short Of Targeted Proceeds For Fifth Consecutive Year: Report

    Nayan Dwivedi
    4d

    Defence

    Indian Army To Upgrade Its Firepower With 200 Mounted Howitzers And 400 Towed Guns

    Indian Army To Upgrade Its Firepower With 200 Mounted Howitzers And 400 Towed Guns

    Swarajya Staff
    7h

    Islamabad, Ankara Work On Boosting Military Ties; Plan To Locally Manufacture Turkish Origin Anti-Tank Missiles In Pakistan

    Swarajya Staff
    1d

    Strengthening Capabilites In The Central Sector Opposite China, IAF Considers Acquiring Three Air Strips In Uttarakhand: CDS Anil Chauhan

    Swarajya Staff
    1d

    World

    Bangladesh: Why A Strong And Secular Opposition Is Necessary For Protection Of Hindus In That Country

    Bangladesh: Why A Strong And Secular Opposition Is Necessary For Protection Of Hindus In That Country

    Jaideep Mazumdar
    4h

    "Cheering Terrorism, Violence?": TIME Called Out For Playing Down SFJ Founder Pannun's Threat Against Air India

    Nishtha Anushree
    4h

    US Shares 'Legally Presentable' Intelligence, Canada Provides Mere 'Allegations' In Assassination Plots, Says Indian High Commissioner Verma

    Nayan Dwivedi
    9h

    Culture

    M P N Ponnusamy: A Nagaswara Legend Passes Away Almost Unsung

    M P N Ponnusamy: A Nagaswara Legend Passes Away Almost Unsung

    K Balakumar
    3h

    Streamlined Repatriation: India-US Deal To Fast-Track Return Of Stolen Antiquities

    Swarajya Staff
    1d

    Questioning Trend Of Weddings Abroad, PM Modi Bats For Local Weddings, Products To Boost Economy

    Swarajya News Staff
    2d
    States

    infrastructure


    V Bhagya Subhashini
    1

    Explained: What Is Rat-Hole Mining — Vital Technique Used In Uttarkashi Tunnel Rescue Operation

    3 Mins Read
    V Bhagya Subhashini
    2

    Karnataka: Bengaluru's Rs 377 Crore World-Class Transformation Of Yeshwantpur Railway Station On Fast Track

    2 Mins Read
    V Bhagya Subhashini
    3

    Telangana Rapid Transit: Rs 55,400 Crore Project Aims 60-Minute Connectivity Between Hyderabad And Major Cities Of State

    2 Mins Read
    V Bhagya Subhashini
    4

    Bengaluru Suburban Rail’s 452 Km Expansion Plan Derails As Railways Opposes Pre-Feasibility Study

    3 Mins Read