After GST changes in realty sector, surge in demand seems unlikely

To implement the GST Council’s recent decisions on the realty sector, the Central Board of Indirect Taxes & Customs (CBIC) has issued six notifications on rates and exemptions and one notification amending the rules. The sub-regime carved out for residential real estate demands caution—the implications must be considered. The reduced rate of 1% for affordable housing and 5% for other residenti…