GST Council Meet: What's In Store For Real Estate Sector
Cement manufacturers along with real estate developers have been demanding a rate cut in the GST. While cement manufacturers are asking for a cut 28 per cent to 18 per cent, developers expect the Council to lower the GST rate to five per cent for builders who purchase 80 per cent of inputs from registered dealers. In its 32nd meeting, the Council had deferred the decision of a lowering the GST on under-construction homes.