Impact of GST on Real Estate

Real estate sector is paying Service Tax and VAT presently. Further there are numerous restrictions on purchase by the real estate sector, and in case of inter-state purchases, rate of taxation is higher in many states. GST shall simplify these things. Real estate developers will get complete input credit, and real incidence of tax shall lower the tax liability on real estate sector. Exact impact shall be known only after rates of GST are notified.