Bhubaneswar, Sept. 6 -- https://images.odishatv.in/uploadimage/library/16_9/16_9_0/recent_photo_1741702438.JPG
The 56th GST Council meeting has announced sweeping reforms for the housing sector, slashing tax rates on construction materials in a move that could lower home prices and drive demand ahead of the festive season.
The decision reduces GST on cement from 28 percent to 18 percent and on granite blocks from 12 percent to 5 percent. Other construction inputs, such as paints, tiles, and electricals have also seen rates fall from 28 percent to 18 percent.
Together, these cuts are expected to ease input costs for developers, improve project viability, and accelerate housing delivery, particularly in the affordable and mid-income segmen...