Real estate: GST, RERA compliance issues continue

In our blog series, we intend to share some such FAQs and clarifications, for easy understanding of all concerned stakeholders in the real estate industry

"We have decided to continue with the. rate was lower than the average GST or service tax rate being paid by them. The GST Council also decided to set up a seven-member GoM on real estate and.

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20,000 crore worth Goods and Services Tax (GST) evasion so far this fiscal and will take more steps to check frauds and increase compliance. of the representatives of the real estate sector to.

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Several residential players are expanding their portfolio in the affordable segment, given the favourable policy support such as credit linked subsidy scheme, lower GST. in the real estate sector.

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NAREDCO’s President Niranjan Hiranandani said the GST Council addresses the transition issues. or continue with existing rates with input tax credit for ongoing housing projects shall make.

Indian Real estate sector annual handbook 2018 03 Foreword With RERA and GST stabilising, the real estate sector is on the cusp of a complete makeover scheme from its existing 90 square metres and for category II, from 110 to 150 square metres. With these key acts stabilising, the real estate sector is on the cusp of a complete makeover.

Less than 800 real. estate projects were registered with the Real Estate Regulatory Authority (RERA) on Monday, the deadline for builders to do so. This against an estimate of over 4,000 projects.

One Year of GST and RERA- A Mixed Bag for the Real Estate Sector. For instance, The Maharashtra Regulatory Authority (MahaRERA) is considering bringing real estate websites under the. Some concerns still remain.

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GST on property: 7 things you should know. Magicbricks organised an event ‘Real Estate – The RERA and GST Era’ in New Delhi recently.. Post-GST, some tax issues will become easier to handle as there would be no overlapping jurisdiction between the Centre and states with regards to levies.

Considering the new compliance challenges for the real estate industry under GST, businesses will need to bring appropriate changes to their IT systems in order to be GST compliance ready. Furthermore, the Real Estate (Regulation & Development) Act, 2016, will usher in an altogether new need for automation.