ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • ZNAA'22
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IPO: 11 public offers raise Rs 33,000 cr between April-June FY23; 17 more in pipeline
  • Rakesh Jhunjhunwala-backed Akasa Air first commercial flight flagged off by Civil Aviation Minister Jyotiraditya Scindia on this
  • IRDAI to rename grievance redressal mechanism; complaints can be filed in regional languages soon
  • Market next week: Global cues, macro numbers, last batch of earnings to dictate D-Street in holiday-truncated week: Experts
  • Eight of top-10 valued firms add Rs 98,235 cr in m-cap; Infosys, TCS lead gainers
Read in App
Business News » India News

Budget 2019 Expectations: Real estate developers demand tax realisation for GST from Nirmala Sitharaman

The real estate developers have demanded from the Narendra Modi government to grant tax realisation for the GST being levied on them.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Budget 2019 Expectations: Real estate developers demand tax realisation for GST from Nirmala Sitharaman
Government should consider allowing centralized GST return for suppliers providing works contract services in various states and thereby reducing the compliance burden. Photo: PTI

The real estate developers have demanded from the Narendra Modi government to grant tax realisation for the GST being levied on them. The industry insiders are of the opinion that the GST input credit is allowed on works contract services for the construction & interior of office (commercial real estate) since it has a direct connection with the carrying out of business activities. They said that Modi 2.0 Government should consider allowing centralized GST return for suppliers providing works contract services in various states and thereby reducing the compliance burden. 

Speaking on the reason for pressing this demand Gaurav Kashyap, CEO Cherry Hill Interiors said, "GST input credit be allowed on works contract services for the construction & interior of office (commercial real estate) since it has a direct connection with the carrying out of business activities. Thereby incentivising the industry to undertake Capital expenditures. Input supplies to be made GST exempt for the suppliers who are making supplies to SEZ units and thereby supporting those suppliers in maintaining there working capital position which gets blocked in the shape of GST refunds on account of supplies to SEZ units/developers."

Giving his views on the issue, Rakesh Yadav, CMD, Antriksh India Group said, "Government should consider allowing centralized GST return for suppliers providing works contract services in various states and thereby reducing the compliance burden. Expedite GST refunds for SEZ projects and MSME companies and the complete refund should be released with 45 days of the filing of the application." Yadav of Antriksh India Group further added that the Finance Minister Nirmala Sitharama should grant industry status to both real estate developers and the interior industry when she stands to present the budget 2019 on July 5th.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Budget 2019Union Budget 2019Narendra ModiNirmala SitharamanReal Estate
Written By: Asit Manohar
Updated: Thu, Jun 20, 2019
12:52 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Social Stock Exchange: What is it? Will it benefit social enterprises in India? Social Stock Exchange: What is it? Will it benefit social enterprises in India?
Housing for all by 2022: Outlook positive for affordable housing in the next 3 years Housing for all by 2022: Outlook positive for affordable housing in the next 3 years
Hit by massive trouble, NBFC sector gets a big boost; here is how Hit by massive trouble, NBFC sector gets a big boost; here is how
Investment tips: These 10 stocks can help your wealth grow in July 2019  Investment tips: These 10 stocks can help your wealth grow in July 2019
Sensex crash! Rs 5.61 lakh crore of investor wealth wiped out in 2 days - 8 reasons why Sensex crash! Rs 5.61 lakh crore of investor wealth wiped out in 2 days - 8 reasons why

LATEST NEWS

Tejas: Why home-made light combat aircraft are in demand? These countries show interest

IPO: 11 public offers raise Rs 33,000 cr between April-June FY23; 17 more in pipeline

Royal Enfield Hunter 350 launched in India; Check price, variants, details and more

Elon Musk dares Twitter CEO Parag Agrawal for open debate on fake accounts

Vodafone Idea may increase tariffs at regular intervals; here's why

Market next week: Global cues, macro numbers, last batch of earnings to dictate D-Street in holiday-truncated week: Experts

Rakesh Jhunjhunwala-backed Akasa Air first commercial flight flagged off by Civil Aviation Minister Jyotiraditya Scindia on this route

Commonwealth Games 2022: Indian women's hockey team wins bronze

Commonwealth Games 2022: Nitu Ghanghas grabs Gold on debut

Inflation alert! Bangladesh increases petrol price by over 50%, diesel price goes up by 42% | What led to this steep hike

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV