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Real Estate

The GST Council provided the real estate sector tax breaks? Think again

Updated : April 02, 2019 10:20 PM IST

Clarity on the definition of the “ongoing projects” has not been given yet, as the press release only states about projects where construction and booking both have started.
What needs to be seen is the definition of “ongoing projects”, whether it would be considered project wise, phase-wise or company wise.
A popular assumption is that no deduction on account of land value would be admissible in case taxpayer opts for lower tax rates, however, this is only our assumption.
The GST Council provided the real estate sector tax breaks? Think again
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