The Confederation of Real Estate Developers’ Associations of India (CREDAI) has expressed deep concerns over the government’s proposal to impose an 18% Goods and Services Tax (GST) on Floor Space Index (FSI) and additional FSI premiums. This move, slated for discussion at the upcoming GST Council meeting, is feared to significantly impact affordable housing and drive up property costs.
Advertisements
In a letter addressed to Union Finance Minister Nirmala Sitharaman and key officials, including Sanjay Kumar Agarwal (Chairman of CBIC), Shashank Priya (Member, GST & Legal), and Vivek Ranjan (Member, Tax Policy), CREDAI, highlighted the potential cascading economic consequences of the proposed tax.
Read more at : The Hindu
Share this content: