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GST quote from Central Park, Retailers Association of India

Quote on GST implementation for real estate sector by Mr. Amarjit Bakshi, Managing Director, Central Park. Request you to include the same if planning any related story.

“GST is another revolutionary step taken by the government to simplify taxation and this will augur well for the real estate industry.

The removal of multiple taxes and introduction of a fixed tax rate of 12 per cent will bring more transparency in the cost of construction projects. The benefit of increased input tax credit now available to developers could result in property prices going down marginally. Overall, the simplified tax structure along with RERA will be instrumental in instilling consumer confidence and boosting demand in the sector.“

Quote on GST - Kumar Rajagopalan, CEO, Retailers Association of India on the GST

Quote from Kumar Rajagopalan, CEO, Retailers Association of India on the GST launch.

“Retailers Association of India (RAI) acknowledges the Goods & Services Tax (GST) as a game changer for the retail industry. It is a giant step forward for India to create uniformity of taxes across the country. We believe, GST is more about change management than taxation—it is undoubtedly one of the biggest exercises in change management till date for team India. Almost everything we have learnt as citizens of this country with respect to indirect taxes will have to be quickly un-learned to welcome an era of one country one tax.

Like with all change management, reactions to GST has three phases: Uninformed optimism, informed pessimism and finally informed optimism. The first phase existed till the mid-May 2017; and we are now in the second phase of informed pessimism that may peak by end August 2017. Informed optimism is a long way off and we hope will come soon.”