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New tax structure for the real estate sector with applicable rules
19-Mar-2019
Admin
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GST Council Tuesday approved a transition plan for the implementation of new tax structure for the real estate sector with applicable rules for housing units being applicable from April 1, 2019.
Key Outcome :
v Under construction projects will have an option to shift to new rate
v 80% procurement of materials should be from registered dealer.
v Up to 15% of commercial space to be treated as residential property.
v Reversal of ITC should be done on Proportionate Basis.
v The Time Limit for Transition will get approval after discussing with States.
Compiled By :
Ca Vikas Golchha
(CA , CS , DISA )
National Faculty GST
Mail : gsthelp24@gmail.com
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