Real estate developers have reached out to the government for clarity and concessions on the issue of double GST payment in redevelopment projects. The economics of redevelopment projects has gone awry in the last few years following the implementation of GST in 2017. The problem arises due to the way GST is computed on these projects.
Against this backdrop, The Economic Times has quoted Rohit Jain (Partner) at Economic Laws Practice (ELP) in their article titled ‘Real estate developers reach out to government over GST on redevelopment’. Rohit has expressed his views on the issue of how GST payments have to be borne by the developer, which is a huge cost to them.
Read the comment and article here: https://bit.ly/3m4iDnD