4 Facts About GST That Will Help You Make a Better Decision When Buying 2 BHK Flats in Matunga
Individuals living in Mumbai need to take a lot of factors into consideration while investing in new residential projects. If you have started your apartment search recently then you must have come across GST in every proposed billing. The introduction of GST has eased down the process to buy residential projects in Mumbai . But, since a lot is not known about this new term, buyers often end up confused. If you are planning to buy 2 BHK flats in Matunga and GST terms and conditions are becoming a hurdle then here are a few facts that you should consider – GST rates and abatement of land GST rates 12% and land abatement rates 50% out of which 25% is the rate of lands and remaining 25% is the rate of goods. Hence, the average cost calculated comes out to be 14%. Thus, the rate of 2 BHK flats in Matunga will expect to cost higher after GST. Impact of GST on Under-construction property A buyer has to pay both VAT and service tax of 4.5% for an under construction prope