Builders in Amaravati hopes to gain momentum with recent changes in GST
The construction sector which has been crawling in Amaravati is hopeful to gain momentum with the recent changes proposed in the Goods Service Tax (GST) slabs. The Union government recently proposed to tweak existing tax slabs reducing GST to 5 per cent from 12 per cent on under construction houses and flat, one per cent on houses with less than 90 square meters carpet area. The new tax slabs likely to be come into action from April 1. If both slabs come into force without any riders, the builders are hopeful of a 20 per cent growth in sales. Tummala Vamshi Krishna, the general secretary of Builders Association of India, Amaravati chapter said that both the reforms are very positive for builders. The sales volumes will definitely increase as the prices likely to come down by 7 per cent in cases of under construction houses.
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