Service tax on luxury houses increased - 0 views
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Purvi Joshi on 27 May 13The real estate in India is at a crucial phase at present. While the real estate has been growing at a hurricane pace in the last decade or so, recent slump has put clouds of doubts hovering over the high rises of India. Sales have been dropping and the contribution of real estate to the economy has also slumped from 10.6% in 2011 to 6.5% in 2012. Although recent rate cut has been welcomed by the really players, the changes in Service Tax Act have made it more expensive to own a home.