GST reduces tax to 5 per cent on poor housing: Jaitley

Hyderabad: Union Finance Minister Arun Jaitley today announced reduction of GST from 12 per cent to 5 per cent on houses under construction and real estate sector across the country. After 33rd council meeting of GST the finance minister made it clear that the reduction will help the real estate wing flourish. Besides the council has taken a decision reducing 1 per cent tax on housing for all scheme from 8 per cent to 7 per cent he said. These steps will sure help real estate grow further and the poor, middle class and lower middle class will turn their dreams true to get homes at affordable prices, he felt.


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