What is the impact of GST on real estate buyer?

Q: What is the impact of GST on real estate buyer?

Abdul Zafar, Hyderabad

24th July 2015

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Here is one of the good article related to GST. http://www.commonfloor.com/guide/effect-of-gst-on-real-estate-44200.html

Ravi Shankar, Hyderabad

24th July 2015

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GST stands for Goods and Services Tax. GST intends to integrate and include many indirect taxes such VAT, service tax, entertainment tax, excise etc which would lead to unified tax rates and rules across India.In recent news it seems that the political parties have reached an agreement for the implementation of GST.

Dhananjay, Hyderabad

24th July 2015

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The GST Task Force of the Thirteenth Finance Commission has proposed a phase-out of these levies, mainly on the grounds that they lead to significant cascading. However, in the interest of consensus building, the states could be given the flexibility to levy the stamp duty, but at a much-reduced rate.GST on real property transactions would ensure a review of the structure and rates of stamp duties and registration fees.

Sridhar, Hyderabad

24th July 2015

Comment

Hi Sridhar, I hope once GST is implemented, the burden of taxes will come down in respect of input tax on goods and services required for construction activities in the real estate business.

Praneeth Kumar, Hyderabad

24th July 2015

Goods and Services Tax yet to be implemented, has been creating a lot of buzz.In India, taxes are collected at multiple points, such as manufacturing, sale, entry, providing service, consumption etc. It also differs from state to state. Some taxes are levied by the central government and some are levied by the state governments.GST inculcate all taxes into one tax and server uniformity in tax payer.

Dhananjay, Hyderabad

24th July 2015

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