How the GST rate cut on cement, construction materials will impact homebuying

The real estate industry has hailed the GST Council’s landmark decision to rationalise tax rates on cement (from 28% to 18%) and other construction materials like sand and bricks (from 12% to 5%), among others. The Finance Minister Nirmala Sitharaman-led GST Council’s measures announced for the real estate sector are aimed at providing benefits to the affordable and mid-income segments, which have seen major slowdown in the past few quarters. Read Article