Explained: The new options in real estate GST, and how it impacts you

The GST Council has given builders the option of choosing between a 12% rate with the option of input tax credit or 5% without it. In the case of affordable housing projects, the choice is between an 8% rate with tax credit and a 1% rate without it.

Builders can now choose between two tax rate structures in case of under-construction residential projects, the Goods and Services Tax (GST) Council said Tuesday. The new reduced tax rates will kick in from April 1.

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