Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and is applicable throughout India which replaced multiple cascading taxes levied by the central and state governments earlier. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12%, 18% and 28%. The effective GST rate on under- construction real estate projects will be 12% after one third abatement for land cost on 18%. However, GST would not be applicable on the units sold after availing completion certificate.