Union Budget 2021: 'Realty needs rational GST regime'

Union Budget 2021: Rational GST regime, temporary waiver needed for realty, says Alok Saraf

Represenative image. Credit: iStockPhoto

By Alok Saraf

The real-estate industry, passing through protracted recession even before the pandemic which worsened it manifold, pins its hope on the Budget for swift revival. The sector expects a two-pronged approach from the Budget — a just GST regime for the industry for bringing down the cost, and ample liquidity for generating demand. A rational GST regime, with temporary waiver or reduction in GST rate for retail home buyers and allowance for availing input credit during construction of commercial properties to commercial leasing and rental segment, will pare down the construction cost for the sector leading to a boost in demand.

(The author is Associate Partner at Grant Thornton Bharat LLP