Lucknow, July 25 -- The Uttar Pradesh Real Estate Regulatory Authority has taken a significant step to safeguard the interests of homebuyers by clarifying the procedure for refund of excess Goods and Services Tax (GST) collected from allottees.
The State Tax Department has put in place an online mechanism to ensure that eligible homebuyers can claim a refund wherever a promoter has collected GST in excess of the prescribed rate. At the same time, all real estate promoters in the state have already been directed earlier by UPRERA to strictly adhere to the GST rates notified by the Government.
UP RERA stated here on Saturday that in all projects registered with the Authority, GST should be collected strictly in accordance with the rates not...