News & Media 13th Jun 2019

GST rate reduction to 5% in realty sector: A winning stroke or a run out

Authors

Gourav Sogani Partner | Mumbai
Rohit Jain Deputy Managing Partner | Mumbai

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Post several representations being made by the industry and based on the recommendations of the GST Council, the Ministry of Finance finally notified a revised scheme whereby a GST rate of 5% without ITC, would be applicable to the sale of an under construction residential unit. However, is this scheme of 5 % GST without ITC more beneficial than 12 % with ITC?

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