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How gst impact in indian real estate market

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The Goods and Services Tax (GST) is beyond doubt the most innovative tax-related modification to be seen in India in some decades since it will reduce the incompatible and flow taxation association which have confounded many industries over the past few decades. It will most positively have a profound effect on India's economic scenario. In other words, it change the several taxes levied by the central and state administration and will become include of all the indirect taxes, including central excise duty, commercial tax, VAT and service tax.

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How gst impact in indian real estate market

  1. 1. How GST Impact in Indian Real Estate Market
  2. 2. What is a GST GST stands for Good Service Tax A Tax eventually borne by the customer. Overcomes cascading along the supply chain
  3. 3. What is a GST The Goods and Services Tax (GST) is beyond doubt the most innovative tax- related modification to be seen in India in some decades since it will reduce the incompatible and flow taxation association which have confounded many industries over the past few decades. It will most positively have a profound effect on India's economic scenario. In other words, it change the several taxes levied by the central and state administration and will become include of all the indirect taxes, including central excise duty, commercial tax, VAT and service tax.
  4. 4. Impact in Real Estate Under-construction real estate is protected under GST during works contract and classified as a service. The GST tax charge for under-construction real estate has been set at 12%. Also, it has been illuminate that input tax credit will be accessible for developers to take benefit of and pass on the benefit to the customers under the anti-profiteering clause of GST.
  5. 5. GST will be a game-changer for Indian real estate industry, since it will include more than 16 main taxes and levies into a solitary consolidate tax. Additionally, the combined tax administration will stop the unnecessary practice of double taxes, which harm real estate and other sectors, given their cascading result that magnified prices for end users.
  6. 6. From the Real Estate developers point of view, execution of GST will outcome in lower building costs. Overall tax occurrence on inputs like steel and cement is expected to decline, thereby leading to enhanced margins for the developer. From the customer’s point of view, the impact of GST on the real estate sector will centre on its useful execution charge.
  7. 7. www.kvdevelopers.com

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