The home buyers who have made their purchase as part of the CLSS scheme under PMAY will now have to shell out lower as GST charges which now stand lower at 8% in comparison to the previous 12%. The rates have come into effect from January 27, 2018. Under construction projects under the scheme are also eligible for the GST rate cut.
First-time Homebuyers Reduced GST Rates Under CLSS Becomes Applicable From January 27
In the scheme, a person with an annual income of upto Rs. 18 lakh and buying an apartment for the first time with a carpet area of 1615 sq ft can get a rebate of as much as Rs. 2.7 lakh.
With it the real estate sector and more apparently affordable housing segment is likely to get a boost as the cost for the home buyer will drop by as much as 4%.
Nonetheless, those not falling under the CLSS guidelines will have to dole out a higher GST of 12% for the same house.
Goodreturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google