{"id":1516,"date":"2017-04-13T17:07:44","date_gmt":"2017-04-13T11:37:44","guid":{"rendered":"https:\/\/www.propstack.com\/news\/?p=1516"},"modified":"2017-04-13T17:07:44","modified_gmt":"2017-04-13T11:37:44","slug":"new-gst-rates-may-raise-property-costs-say-real-estate-developers","status":"publish","type":"post","link":"https:\/\/www.propstack.com\/news\/new-gst-rates-may-raise-property-costs-say-real-estate-developers\/","title":{"rendered":"New GST rates may raise property costs, say real estate developers"},"content":{"rendered":"<p class=\"S3l\">Real estate developers are concerned that the implementation of the goods and services tax (GST) may raise the overall cost of properties if the sector comes under the expected 18% tax slab and stamp duty is not subsumed in the new tax structure.<\/p>\n<p>The GST Bill was cleared in Parliament\u2019s budget session, paving the way for roll-out of the indirect tax regime on 1 July. According to the legislation, land leasing, renting of commercial properties and purchase of under-construction housing projects will attract GST.<\/p>\n<p>The GST Council on 31 March approved nine sets of rules for implementation of the tax. It will hold its next meeting on 18-19 May to discuss the rates on individual items. Under the new indirect tax regime, there will be four tax slabs\u20145%, 12%, 18% and 28%.<\/p>\n<p>&nbsp;<\/p>\n<p>Read more:\u00a0<a href=\"http:\/\/www.livemint.com\/Companies\/HBf284pa32Y0AOByNkow2O\/New-GST-rates-may-raise-property-costs-say-real-estate-deve.html\" target=\"_blank\">Live Mint<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate developers are concerned that the implementation of the goods and services tax (GST) may raise the overall cost of properties if the sector comes under the expected 18% tax slab and stamp duty is not subsumed in the new tax structure. The GST Bill was cleared in Parliament\u2019s budget session, paving the way\u2026 <span class=\"read-more\"><a href=\"https:\/\/www.propstack.com\/news\/new-gst-rates-may-raise-property-costs-say-real-estate-developers\/\">Read More &raquo;<\/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-1516","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\/1516","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=1516"}],"version-history":[{"count":1,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1516\/revisions"}],"predecessor-version":[{"id":1517,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1516\/revisions\/1517"}],"wp:attachment":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/media?parent=1516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/categories?post=1516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/tags?post=1516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}