GoM favours cutting GST to 5 pc on residential properties, 3 pc on affordable housing

A panel of state ministers Friday favoured lowering  GST on under-construction residential properties to 5 per cent, from 12 per cent currently. The Group of Ministers, under Gujarat Deputy Chief Minister  Nitin Patel , was set up last month to analyse tax rates and issues/challenges being faced by the  real estate sector under the Goods and Services Tax (GST) regime. In its first m…