Goods and Service Tax Rate issues faced by various industries
By Ranjeet Mahtani and Sweta Rajan During its meetings on May 18 and 19, 2017, the GST Council declared the placement of goods and services across the fixed GST rate slabs. The GST Council further released the list of goods liable for GST Compensation Cess along with the applicable rate of cess and released a list of services which would be liable to GST under the reverse charge mechanism. While the GST law empowers the Government to specify goods and services on which GST is payable by the recipient, the Council has approved only services that are likely to attract GST on reverse charge basis. Rate specific issues The release of the GST rates has, as expected, triggered varying responses across industries. Some ...
Amendments to the Real Estate Bill will escalate costs: Expert
Jayarama Emani | The Dollar Business By giving approval to amendments to the Real Estate (Regulation and Development) Bill, 2013 pending in the Rajya Sabha, and approved amendments proposed in the Bill, the government is expecting to boost the domestic and foreign investment in the sector and achieve the objective of ‘Housing for All by 2022’, through enhanced private participation. However, C Shekar Reddy, the immediate past National President of The Confederation of Real Estate Developers Associations of India (CREDAI) feels that certain sections of the Bill neither help the builders nor the consumers leading to unwarranted cost escalation. Talking to The Dollar Business, Reddy said, “Certain provisions in the Bill like – establishment of one or more ‘Real ...
India to witness more Foreign Direct Invesment inflows into the realty sector
| The Dollar Business “The recent move by the Indian Government like reduction in the number of documents for imports and exports and continued focus on ‘ease of doing business’ will augur well for the inflow of FDI (Foreign Direct Investment) into the Indian real estate,” said C Shekar Reddy, National President, The Confederation of Real Estate Developers Associations of India. Speaking to The Dollar Business, Reddy said the PPP (Public Private Partnership) model followed by the Government and its intention to generate Rs 70,000 crore through infrastructure bonds will attract FDI too and the industry might see the investments surge up to $7.5 billion for the year 2015, against $5 billion in 2014. For 2014, the percentage ratio ...
