Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment
 
 
Service Tax »
 A 5-Point Guide For Buyers To Understand The Effect Of GST On Real Estate
 Stalled unsorted diamond imports to resume after GST rate revision
 TDS, TCS deductors can apply for GST registration from 18 September
 E-commerce companies face tax heat as I-T department says discounts should be treated as capital spend
 Central Goods and Services Tax (Sixth Amendment) Rules, 2017
 GST will also impact direct tax collection
 Seeks to extend time period for filing of details in FORM GSTR-6 for months of July & August
 GST: Is input tax credit available for tax paid on mobiles given to staff?
 GST filing, reconciliation solution launched
  Finance Ministry asks taxmen to submit note on high-pitched assessments
 Step by Step Guide for GST Enrolment for existing Central Excise / Service Tax Assessees

Budget 2012: Realty cos hope for no hike in service tax
March, 10th 2012

The year has changed, but the problems plaguing the real estate sector have not. Naturally, neither have the sector's list of expectations from the Budget.


Vineetha Athrey reports that low demand and liquidity concerns remain the Indian real estate sector's nemesis. The sector is now clinging to hope that the Finance Minister will, at least this year, offer some deliverance.
Battered by repeated rate hikes, which have meant a fall in sales, and a higher cost of funds, players are asking that Budget 2012 contain measures to revive demand and rationalise taxes.

One big hope is that rumours of a further hike in service tax on input materials and rental income will remain just that, rumours.

Chairman and managing director of CBRE South Asia, Anshuman Magazine hopes service tax on construction materials is not hiked. "Government imposed 10.3% service tax on construction materialsis passed on to the consumer, due to which the cost of housing goes up," he said.

JC Sharma, managing director of Sobha Developers hopes the FM encourages developers to invest in real estate. "Allow the developer some income tax benefits so that he is encouraged to invest in realty more aggressively," he said.
Some of the other big expectations are:

1. Infrastructure status to township development to reduce cost of borrowing;
2. Increase in the Rs 15 lakh cap on the 1% interest subversion for affordable homes whose value is less than Rs 25 lakh to boost demand;

3. Open up more funding options and an easing of the higher provisioning norms the real estate sector is subject to.
Executive director of DLF , Rajeev Talwar says "ECB tied down to projects with a lock in period should come in because funds coming in must be long term and must be funds tied to projects. Similarly, you could have REIT and realty mutual funds which should be allowed."

The sector is keen that projects like these, which have been stuck due to either lack of demand or lack of funding, come back on track. To this end, developers are hoping for some stimulus by way of tax exemptions, especially in the affordable housing space - hitting two birds with one stone.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions