Arun Jaitley speaks about GST on completed Flats
By Admin 2018-12-22 13:49:47

Arun Jaitley speaks about GST on completed Flats

Even one year after the implementation of GST there still persist confusion among the customers regarding the application of GST on flats & properties that hold the completion Certificate.
Finance Minister Mr. Arun Jaitley gave a clear picture regarding GST application on completed projects. Ministry issued statement which stated that” It is brought to the notice of buyers of constructed property that there is no GST on the sale of the complex/ building and ready to move in flats where the sale takes place after the issue of completion certificate by the competent authority.”Incase if the buyer has purchased the property that is under construction or ready to move in the buyer will have to pay the GST if the project has not received any completion certificate at registration time.
To boost the sales sector of real estate, ministry urged the real estate developers to lower down the prices.
The government is trying its level best to boost the real estate sector by bringing in most transparent laws and lowering down home loan interest etc
News source-home online

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