Impact of Goods and Service Tax (GST) on Housing Sector in India

Abstract

:  In this research paper I try to attempt the impact of goods and service tax (GST) on housing sector in India. The author also has stated with a brief description of the historical scenario of Indian GST. The Goods and Services Tax (GST) is a value added tax implemented in India and it has been made clear that there would be a dual GST, taxation power – both by the centre and the state to levy the taxes on the goods and services. In the present State-level VAT scheme, CENVAT load on the goods remains included in the value of goods to be taxed under State VAT, and contributing to that extent a cascading effect on account of CENVAT element. With better regulations like RERA and GST coming into force, we can expect better transparency, management and increased buyer confidence in Real Estate sector.