The Confederation of Real Estate Developers’ Associations of India (CREDAI) has called on the Indian government to remove the Goods and Services Tax (GST) on flats that are given free of charge to existing occupants in redevelopment projects, in order to make them economically viable. CREDAI and CREDAI-MCHI formally petitioned Finance Minister Nirmala Sitharaman to consider their request, explaining that the levying of the GST on such projects is undermining their financial feasibility. The groups argue that the tax should not be charged in cases where no consideration has been received for a property, such as when an owner is given a new flat for free.
CREDAI urges Centre to remove GST on complimentary flats in redevelopment projects
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