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Modi government’ effort to reduce the cost of building house

Thursday - February 14, 2019 12:39 pm , Category : BHOPAL
Prime Minister Modi on 'mission mode' of completing the own home dream of the common people
Prime Minister Modi on 'mission mode' of completing the own home dream of the common people

Prime Minister Modi's 'home politics' in the wake of the Lok Sabha elections!

FEB 14 (WTN) - Keeping in the mind the Lok Sabha elections, the Modi government is going to give some more gifts to the general public. According to the information, after the GST Council meeting on February 20, where prices of under construction houses can be cheap, and the rate on GST can be reduced even on cement. The GST Council meeting will consider the GST rate at under-construction houses for 5 per cent and the rate of GST at 3 per cent on the affordable houses. That is, in a way Modi Government is on a mission mode to fulfill the dream of own home of the general public.

For your information, let you know that GOM i.e. Group of Ministers had earlier recommended the rate of GST to 5 per cent on the under-construction houses and on the affordable housing without ITC to 3 per cent GST with no input tax credits.

But at this time, at the GST Council meeting everyone has a look at what some decisions can be taken on the GST rate on the cement. For your information, let you know that there is a demand of reducing the cement rates for a long time. If the central government reduces GST on cement, then it is expected to lose 13,000 crores revenue annually. But it is being said that keeping in view the Lok Sabha elections, the Modi government can reduce the GST rate on cement from 28 per cent to 18 per cent.

For your information, let you know that at present the GST rate is at 28 per cent on the cement, due to which the price of a bag of cement is approximately 300 rupees, but if the rate of GST would be reduced from 28 per cent to 18 per cent then per bag cement would be 20 to 25 rupees cheaper. In fact, the Modi government is working on this mission mode so the rate of houses and cost of building house should be cheaper. For your information, let you know that in July last year, the rate of GST on paint and varnish was reduced from 28 per cent to 18 per cent.

Now it is necessary to see how much the Modi Government can achieve in the mission of reducing the cost of house purchasing and the cost of building the house and how much of this gives benefit to the BJP in the Lok Sabha elections. Prime Minister Modi intends that by 2022, everyone has their own house in the country, so with the improvement in the real estate sector along with the Pradhan mantra Awas Yojna, apart from the decreasing the GST on the flats and the cost of building houses, Prime Minister Modi is working on the plan so that his mission of 2022 will also be completed and he will also get the benefit of it in the Lok Sabha elections.

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