New Delhi, January 24, 2017: “We expect Budget 2017 to streamline taxation structure of the country through successfully rolling out GST. GST is expected to lessen the tax burden on developers on input items such as cement and steel by removing multiple layers of taxation and instituting the tax credit system. That said, the actual merit or demerit of GST will only be known when the final rates are set. By simplifying taxes, the new uniform tax regime will bring much needed clarity in how taxes are levied while eliminating instances of double taxation. Once passed on to the buyers, these benefits will result in lower cost of property. Also, we expect the budget to give further boost to the system of single window clearance so that projects are completed on time. Generally, projects get stuck for 1-2 years due to approvals. In my opinion, this year’s budget should also give industry status to the real estate sector which will help us in accessing funds at lower rates from financial institutions and benefits of which can be passed on to the end customers.”
Corporate Comm India(CCI Newswire)
