India 04 August 2016: “There is no doubt GST will be a game-changer for Indian industry, including the real estate sector, since it will subsume more than 16 major taxes and levies into a single consolidated tax. Additionally, the unified tax regime will stop the unwanted practice of double taxation, which hurt real estate and other sectors, given their cascading effect that inflated prices for end users. Though unorganised players are wary of GST’s impact, it will create a level-playing field for organised entities because the former will now come under the tax ambit. With GST enforcing transparent transactions across all domains, this will be a blessing in disguise for real estate developers”.
Mr. Aman Agarwal, Governing Council Member NAREDCO & Director, KV Developers