Relax: No GST on two-bedroom (2BHK) Houses

If you are going to buy two-bedroom (2BHK) house, be relaxed. Here is a good news for you, Goods and Services Tax (GST) will not be applied to two-bedroom (2BHK) housing programme.

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HYDERABAD: Goods and Services Tax (GST) will not be imposed on two-bedroom (2BHK) housing programme. The State Government has decided that there would not be any burden of GST on 2BHK houses.

Special Chief Secretary (Housing) Chitra Ramachandran conducted a meeting with nodal officers and executive engineers who were involved in the implementation of 2BHK housing programme in the State on Tuesday. The Commercial Taxes officials too attended the meeting. 

During the session, it was decided that there would not be any burden of GST on 2BHK houses. In fact, in all the residential buildings, there would be nearly 70 per cent of material component and 30 per cent of labour component. The unit cost of 2BHK is Rs 5.04 lakh in rural area, the value of work will be `4,80,000 leaving a balance of Rs 24,000 provision for paying Value Added Tax (VAT).

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