Advertise Here [728 W x 90 H pixels]
Construction : Web Exclusive | July 2017 | Source : CW-India

“GST wil limprove efficiency in transportation and logistics related to construction materials,” says Sunil Sharma, VP-CRM & Marketing, Mahindra Lifespaces Developers

As the government rolled out the Goods & Services Tax (GST) on July 1, 2017, it is set to bring about fundamental shifts in taxation across sectors, including real estate and infrastructure.

Says Sunil Sharma, Vice President-CRM & Marketing, Mahindra Lifespaces Developers, “GST is set to bring about fundamental shifts in taxation in the real estate and infrastructure sector. Taxes such as Excise Duty, VAT, Octroi, LBT, etc, have been subsumed into GST. The implementation of GST is expected to benefit the sector in the long term, owing to improved transparency and accountability across the value chain, and ease of doing business. A simpler and more transparent tax regime applied on the purchase price under GST is a significant takeaway for property buyers. GST will also entitle developers and contractors to input tax credit on purchase of materials, which can improve efficiency in transportation and logistics related to construction materials. In the mid-long term, the stabiliSation brought about by GST can streamline the Indian real estate sector, with benefits across the ecosystem on account of improved efficiencies.”

 
Advertise Here [728 W x 90 H pixels]