Construction services taxable at 18% with 1/3rd land value deduction

Govt. hikes GST rate on services of construction of complex, building, civil structure or part thereof, including complex or building intended for sale to buyer in whole or part, to 18% vis-a-vis 12% announced by GST Council during 14th meeting; While the value of land was includible in amount charged from service recipient with full ITC earlier, the notified rates prescribe deduction of value of land or undivided share of land equivalent to 1/3rd of total amount charged for ...