The Goods and Services Tax (GST) for real estate sector is expected to streamline the domestic supply chain that will lead to a consolidated and efficient warehousing infrastructure in the country.
“This will give the much needed push to the retail and industrial sectors to grow,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
“The positive sentiments after the passage of the GST Bill will receive a further boost if RBI does its bit in reducing policy rates on the back of a good monsoon and controlled retail inflation in the economy,” he added.
At the macro level, the GST will create further efficiencies in the economy and will add to the ease of doing business in India. The simplification of taxes will widen the tax base which in turn will lead to higher tax collections.
“In its own way, it will also increase transparency levels within the economy. All these factors will help in transforming India into a favoured investment destination,” Baijal said.