How will GST affect Real Estate sector??
The aim of the introduction of the Goods and Services Tax (GST) is that the conclusion of multiple taxation regime. The Indian realty sector is calculable to account for regarding five-hitter of the country’s Gross Domestic Product (GDP) and is taken into account the second-largest leader within the country. After holding a webinar with accountant Manas Joshi, Director, Proficient Partners Consultants Pvt Ltd, we came to the conclusion of seven ways that during which the new tax regime can have an effect on the property market. * The important real estate sector is meant to pay service tax, sales tax, excise and revenue enhancement. Of these taxes can subsume into GST, apart from revenue enhancement. So, this sector is thought of associate exception as way as GST worries as a result of this can be the sole sector wherever someone can still ought to pay revenue enhancement and capital levy, that area unit state levies. * With the approaching of GST, the price of low or