Wondering, does NRI get GST relief on property purchase in India? Non-Resident Indians (NRIs) do not get specific GST relief while purchasing a property in India.
When NRIs buy under-construction properties, they are required to pay Goods and Services Tax (GST) at the same rates as resident Indians.
The current GST rate for under-construction properties is 5% without input tax credit (ITC) for residential properties and 1% for affordable housing. Completed properties or ready-to-move-in homes do not attract GST.
However, NRIs can benefit from various exemptions and deductions under the Income Tax Act related to property transactions, similar to resident Indians.
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Does NRI Get GST Relief While Purchasing a Property?
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2024-08-05T10:40:59+00:00 2024-08-09T14:27:46+00:00Comment
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