The GST Council had
in May decided to levy 12 per cent GST on construction of a complex, building,
civil structure or intended for sale to a buyer, wholly or partly.
The
effective GST rate on under- construction real estate projects will be 12 per
cent only and not 18 per cent as there will be abatement for land cost,
according to tax consultant EY.
Realtors' body CREDAI...
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