“REAL ESTATE TAXES IN MAHARASHTRA”

GST: – GST (Good & Service Tax) on property in Maharashtra Under GST, a single tax rate of 12% is applicable on properties under construction while GST is not applicable on completed or ready to sale properties which was the case in previous law. Current GST Rates In Maharashtra:- GST rate on real estate With the intent to simulate demand amid a prolonged slowdown, the government has reduced the GST rate on property transactions significantly. This could potentially lower the buyers’ pay-out by 4%-6% on the overall purchase, believe experts.While the new tax rate without input tax credit (ITC) will apply on all new projects, builders were …

Continue Reading