UP RERA issues guidelines for refund of excess GST collected from homebuyers

UP RERA tells developers to refund excess GST collected from homebuyersThe Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued fresh guidelines to help homebuyers claim refunds of excess Goods and Services Tax (GST) collected by developers, while directing promoters to strictly comply with notified tax rates.The authority has directed all registered real estate promoters to strictly adhere to the GST rates notified by the Central government.In a recent statement, UP RERA said eligible homebuyers who were charged GST in excess of the prescribed rates would be able to claim refunds through the GST department's online mechanism. “GST in all projects registered with UP RERA should be collected only at the rates notified by the Central government.” It added that the applicable r