New Delhi, August 07, 2018: “India entered a new era of single unified tax regime called Goods and Service Tax (GST) on July 1, 2017, where the economy let go off various taxes to adopt one single tax. The impact of GST on real estate sector is neutral, and overall more helpful to the developers as well as for the end -users. As now the end customer is able to assess his tax liabilities in an easier and more transparent manner. The biggest advantage is that it brought in total accountability in costing & tracing every supplier of material who can be held accountable and responsible in future. Over the future, the Indian real estate sector will emerge stronger, healthier and capable of long periods of sustained growth under GST“. – Mr.Ravish Kapoor, Director, Elan Group
“The introduction of the GST (Goods and Services Tax) has grabbed the attention across all industries in the country. It has brought in multi-edged positive impact in the realty sector: invited in more transparency, abolished multiple taxation systems. At present, every sector is facing few of the confusions relating to the implementation of it. With the passing of time, these doubts are being cleared out and the indirect tax is making the things more seamless. In future, the real estate sector will become more systematic and streamlined.” – Mr. Ssumit Berry, Managing Director, BDI GroupCorporate Comm India(CCI Newswire)
