Copy of press release on GST Council decisions regarding real estate sector

GST Council recommends rate of 5% without ITC on residential properties outside affordable segment and 1% without ITC on affordable housing properties which would be applicable from April 01, 2019, in order to boost the residential segment of the real estate sector; Defines affordable housing to include residential house/flat of carpet area of upto 90 sqm in non-metropolitan cities/towns and 60 sqm in metropolitan cities (notified separately) having value upto Rs. 45 lacs; Pr...