The proposed implementation of Goods & Services Tax will not increase prices of real estate, especially of affordable housing, said M. Venkaiah Naidu, Minister for Urban Development, Housing and Poverty Alleviation.<\/p>\n
\u201cGST will not increase prices, especially not for affordable housing. We have already exempt affordable housing from service tax, and my ministry is addressing the need to continue this exemption under GST. We have recommended to the Ministry of Finance to tax the sector at a rate which is revenue neutral and not at a higher tax rate,\u201d a CREDAI release quoted Naidu as saying. The minister was addressing the realtors’ apex body\u2019s two-day conclave in New Delhi.<\/p>\n
\u201cInput tax credit will be available, thus creating a huge incentive to bring all transactions in the sector within the formal system. We are addressing the need to rationalise stamp duty, and are asking for waiver of stamp duty for affordable housing,\u201d he said.<\/p>\n
<\/p>\n
Read more:\u00a0The Economic Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The proposed implementation of Goods & Services Tax will not increase prices of real estate, especially of affordable housing, said M. Venkaiah Naidu, Minister for Urban Development, Housing and Poverty Alleviation. \u201cGST will not increase prices, especially not for affordable housing. We have already exempt affordable housing from service tax, and my ministry is addressing\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[209],"class_list":["post-1367","post","type-post","status-publish","format-standard","hentry","category-policy","tag-gst"],"_links":{"self":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/comments?post=1367"}],"version-history":[{"count":1,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1367\/revisions"}],"predecessor-version":[{"id":1368,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1367\/revisions\/1368"}],"wp:attachment":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/media?parent=1367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/categories?post=1367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/tags?post=1367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}