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On 24th February 2019, the GST Council conducted the 33rd meeting and in this session, they came up with a new GST rate for the real estate sector which started operating from 1st April 2019. In this meeting, apart from approving the new tax structure, the Council has also given the under-construction projects the ability to shift to a new rate. As per the new GST rule catering to the housing projects, s GST of 5% without ITC will be levied on residential projects which do not fall under the affordable category while a GST of 1% without ITC will be levied on affordable projects. To make things further easier to understand, the council has also put down the price to differentiate between affordable and expensive housing projects. A residential flat having a carpet area up to 90 sqm in the non-metropolitan city and 60 sqm in metropolitan cities priced Rs. 45 lakh (maximum) falls under the affordable section. Apart from that, it has also been decided that 80% of the building...

The ' City with a Soul ' is indeed different from other metropolitan cities. The lanes of the city bring out the synergy between tradition and modern aspects to provide the residents with the best of both the worlds. Kolkata reflects a vibrancy which embraces a rich culture, literature, great food, and nostalgia. If you walk down the streets of Kolkata, you'll come across a few interesting things like ' parar chaa-er dokan ' (local tea stall) where from the age of 18 to the age of 60, people engage in ' adda session ' (discussion or exchanging of ideas). Again, you'll come across a crowd who indulge in leading a posh lifestyle, whereby they only prefer visiting malls or such places. Hence, such factors give this city its edge! Parar Cha er Dokan - Kolkata Local Tea Stall However, things are developing. Though the people of Kolkata loves to embrace the traditional aspect of the city, it does not mean that they will not desire to own luxurious apar...