Budget 2019: Here's how the GST plays a role in the budget
Updated : January 30, 2019 03:31 PM IST
Prior to the implementation of GST, the state and the centre levied multiple taxes such as excise duty, octroi tax, value added tax, entry tax among others. However, GST is not levied on custom duty.
With the 18 percent GST rate levied across the nation, the state and the centre get 9 percent tax each called the Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) respectively.
A GST exemption on properties falling under the affordable category will help first time buyers. At the moment, sale of under construction properties attract 12 percent GST, making it costly for buyers.