Current Affairs - Economy - Discussion

Discussion Forum : Economy - Latest Current Affairs (Q.No. 1175)

2019-02-25 Economy

1175.

GST on under construction flats cut from 12 percent to __________ %.

10.5%

8.2%

Answer: Option

Explanation:

Under construction properties priced over ₹45 lakh will attract 5% GST (Goods and Services Tax), instead of 12%. A residential property priced at ₹45 lakh or below will now be defined as "affordable" and taxed at 1%, from 8% earlier. The new rates will be effective from April 1, 2019.