Budget home threshold may be hiked to Rs 55 lakh
GoM) tasked by the Goods and Services Tax Council to look into application of GST for real estate is of the view that the definition of affordable housing be extended to Rs 55 lakh from the current Rs 45 lakh, people in the know of the matter said.
If approved by the GST Council, this will likely provide a significant boost to the affordable housing sector.
Currently affordable housing attracts GST of 1%, while other housing projects are levied 5%. The input tax credit (ITC) facility is not available in both cases.
The seven-member GoM headed by Goa chief minister Pramod Samant may also recommend enhancing tax on luxury housing above Rs 15 crore and may not give any relief to joint development agreements (JDAs) on the application of GST.
«There was a general consensus that the definition of affordable housing for the purpose of GST must be enhanced, however the majority of the members were opposed to GST on JDA,» a person aware of the discussions at the panel told ET.
HR
Human Potential and the Future of Employment
By — Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader
Marketing
Performance Marketing for eCommerce Brands
By — Zafer Mukeri, Founder- Inara Marketers
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla Sudha Sekhar, IT Specialist and Developer
Astrology
Vastu Shastra Course
By —
