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
  • Bank holidays in August 2022: Banks to remain closed for 18 days; Check full list
  • Apple iPhone 14 launch: What to expect - price, specifications, release date and more
  • Majority of employees want hybrid work, not work from office - An insight
Read in App
Business News » India News

Budget 2019 expectations: Realty developers demand rationalisation of GST, input credit from Modi government

Demand is to GST exempt for suppliers making supplies to SEZ units and thereby, supporting them in managing their working capital position which gets blocked in the shape of GST refunds.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Budget 2019 expectations: Realty developers demand rationalisation of GST, input credit from Modi government
GST input credit be allowed on works contract services for the construction and interior of office space. Photo source: Pixabay

With just one day to go for budget 2019, the real estate developers have demanded from the Narendra Modi to rationalise the GST across sector. They said credit inputs would be allowed on work construction and interior of office space as it has direct connection with the real estate sector. Gaurav Kashyap CEO Cherry Hill Interiors told Zee Business online, "GST input credit be allowed on works contract services for the construction and interior of office space since it has direct connection with the carrying out of business activities. Thereby, incentivizing the industry to undertake Capital expenditures." 

Kashyap said that input supplies to be made GST exempt for the suppliers who are making supplies to SEZ units and thereby, supporting those suppliers in managing their working capital position which gets blocked in the shape of GST refunds on account of supplies to SEZ units/developers.

See Zee Business Budget 2019 video below:

#Budget2019 के ठीक एक दिन पहले आज दोपहर 12:56 PM पर समझिए बजट की बारिकियां #BudgetKiPaathshaala में अनिल सिंघवी और वरिंदर बंसल के साथ। pic.twitter.com/OKJk72iB7b

— Zee Business (@ZeeBusiness) January 31, 2019

Surendra Hiranandani, Founder and Director, House of Hiranandani told, "There is significant expectation is to cut GST rates to a single, standard rate, and not have multiple rates or taxes. The abolition of stamp duty or its incorporation under GST will be an added advantage welcome." He said that Indian real estate sector is the most highly taxed with the combination of high direct and indirect taxes, stamp duties and levies for development approvals. These extraordinarily high taxes coupled with high interest rates has been crippling growth.

To bring back growth in the sector which is so vital to any developing economy the Government needs to do implement the following measures in the upcoming budget.

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 2019Narendra ModiPiyush GoyalGST
Written By: Asit Manohar
Updated: Thu, Jan 31, 2019
07:33 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

Paytm share price gains over 6%; brokerages recommend 'Buy' rating - Check price target

Stocks to buy today: Nykaa, Wipro, SBI, HPCL among list of 20 stocks for profitable trade on August 8

Domestic investors pip FPIs to hold all-time high in June 2022 quarter

Stocks to buy with Anil Singhvi: Sanjiv Bhasin picks Godrej Properties, UPL Limited; Check price target

India@100: Anil Singhvi picks 25 special stocks for bumper returns in long term - Full list

Majority of employees want hybrid work, not work from office - An insight

Ed-tech, offline players take merger route for sustainable business model post-pandemic

When will 5G mobile services be launched in India? Government shares timeframe - Details

JEE-Main: 24 candidates score perfect 100; result of 5 students withheld due to this reason

Tata Motors to buy Ford India's Sanand factory for Rs 726 crore

  • 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