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What will be effect of GST on Real Estate market?

Latest Answer: Apart from that, currently in the real estate sector when a house is bought by the consumer, they pay service tax of 4.5 per cent. Under GST regime, the real estate sector has been put under 12 per cent bracket. This means that instead of paying 4.5 per cent tax, the consumer will have to pay 12 per cent which means a rise of 7.5 per cent. The consumers who do not pay the whole amount together and choose the option of paying it in monthly instalment also pay service tax. This will also get converted to GST.

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