Business
GST – Comments-Mahindra Lifespaces
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“The Goods & Services Tax (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/logistics related to construction materials.
In the mid-long term, the stabilization brought about by GST can streamline the Indian real estate sector, with benefits across the ecosystem on account of improved efficiencies.”