No clear definition of 'ongoing project' may lead to disputes under new GST rates for real estate

The  GST Council at its 34th meeting on 19 March 2019 laid down the roadmap for implementation of the recommendations made in the previous meeting, towards rate rationalisation for real estate. These recommendations attempt to address the apprehensions of the sector on multiple issues including loss of unutilised input credit, exemptions and rate applicability.  Ongoing projects  A…