Realtors want different GST rates based on location of projects

Goods and Services Tax (GST) on under construction projects is hurting cash flow of realtors. Slowdown in bookings and apportionment of land cost value are two pain points. Along with the stamp duty and the registration fee of 7– 8 per cent, and, a 12 per cent GST, the total tax goes above 19 per cent for an under-construction project. Before the GST was launched, a service tax of approximately 5…