SN Raghuchandran Nair, a former national vice-president of Credai, has said that the confederation of real estate developers have welcomed the roll-out of GST with ‘caution'.
The Thiruvananthapuram-based builder said that as in the case of any new tax regime, the full impact GST can be realised only after it is implemented.
“We do anticipate that just like income-tax has evolved over a period, GST could also take time to reflect its relevance.
“We are in the process of understanding GST and will continue to support our members in educating them on the same,” Nair said.
Earlier, the Thiruvananthapuram chapter of Credai organised an interactive workshop on ‘GST in real estate sector’ for its members here.
Jose Jacob, a Fosbury Consultant, led the workshop and provided insights on ‘How to understand GST in the real estate sector- the benefits and challenges of its implementation in India’.
The main objective was to keep local members of Credai updated on GST before its inception on July 1.