5% GST without input tax credit on realty favourable for developers

The proposed bid by the Centre to reduce  GST  on the under-construction houses to a maximum of 5 per cent without input  tax  credit (ITC) has been welcomed by developers who think it will revive demand. "We are looking forward to 5 per cent  GST  without ITC though it will hurt the builders in the short run. We expect the demand for under construction housing will r…