( Shivam Dubey )
Finance Minister Arun Jaitley has given a big gift to the people who bought the house before the Lok Sabha elections. GST Council has decided to reduce the Goods and Services tax rates in affordable housing in meeting by 5 percent from 12 percent on the under construction house. Earlier, there was 8 percent GST on households, now it was reduced to 1 percent.
According to the GST Council, instead of 60 square meters or less, houses built in the metro will come in affordable categories, while in non-metro city it will be 90 square.
Tell us that the new rates of GST will be implemented from April 1, GST also have a special point of decreasing the rate that it will also apply to old houses whose residences are left over.