Mumbai realtors ask state for GST reduction, Input Tax Credit on redevelopment

The recent amendments in the Goods & Services Tax ( GST ) structure has unsettled realty developers engaged in the redevelopment segment in the  Mumbai property market, as realty developers’ body CREDAI-MCHI has reached out to the state government pressing for tax exemption and  input tax credit ( ITC ) provision. The GST Council recently recommended reducing the tax rates for under-…