Setback expected for Real Estate Sector as GST Council may Reverse SC Verdict in Safari Retreats Case

The GST Council may reverse the Supreme Court’s verdict in the Safari Retreats case, which had favorable outcomes for the real estate sector. The potential reversal could have a significant impact on the real estate sector by altering the tax treatment of construction services. This decision is being closely watched by industry stakeholders, as it could change the tax burden on developers and builders. The reversal could lead to higher costs for real estate projects, thereby affecting the sector’s overall growth and profitability. The matter remains under review by the GST Council.