Gujarat HC verdict on GST on under-construction flats to reduce tax outgo for buyers, say experts

The Gujarat High Court ruling that actual value of land should be deducted before levying GST on under-construction flats would reduce the tax outgo for homebuyers, provided the contractual arrangement transparently denotes the land value, experts said. Currently, GST is levied on sale of under-construction flats/units wherein the entire value of flat or unit (including value of underlying land) i…