The values quoted hereunder are approximate and for practical study. Salaried personal and mid level businessmen usually opt for home loans to avail loans at competitive interest rates and also to save tax. The general bank condition is that the minimum investment from the buyers must be 20% to 25% and the remaining sale value… Read More
The Union Government is seriously considering to bring the real estate under the GST, but there appears that a lobby is working against the same. The prices of the properties may see an upward trend, but, hopefully, every transaction will be transparent.
The Goods and Services Tax (GST) rate of 12 percent will be applicable on under-construction properties. This rate with input tax credit seeks to remove the inefficiencies of dual taxation in the form of value added taxation (VAT), service tax and puts an end to multiple taxes. The service tax exemptions to be continued in… Read More
Sl. No. Description of Services GST Rate 1. Transport of goods by rail 5% with ITC of input services 2. Transport of passengers by rail (other than sleeper class) 5% with ITC of input services 3. Services of goods transport agency (GTA) in relation to transportation of goods [other than used household goods for personal… Read More
PROPERTY PRICE RISE AND GST AFTER 1-7-2017 Earlier-There was VAT and alternatively Composite Tax and Service Tax on the construction industry NOW BOTH ROLLED INTO ONE-CALLED GST Under GST the Service tax is 12%. It has been learnt that customers willing to buy a nearly-completed house/flat will have to pay 12 per cent service tax… Read More
The Government of Karnataka was deliberating and discussing the important issues and points of RERA, which had been notified by the Center and other states, but, will be notifying it soon without much MODIFICATION/CHANGE/ALTERATION. This notification has very significant effect on the REAL ESTATE market and will bring about transparency and stability in the business. The… Read More
The new GST or Goods and Services Tax will range from 5 to 28 per cent in a four-bracket structure, agreed upon today by the GST Council The four GST slabs have been set at 5%, 12%, 18% and 28% for different items or services. The brackets are steeper than the rates of 6, 12,… Read More