STAFF REPORTER
GUWAHATI: The Assam Real Estate & Infrastructure Developers Association (AREIDA) has lauded the recent GST reforms announced by the Union Finance Minister, terming them a “landmark reform” that will simplify taxation and ease financial burdens across sectors. One of the major takeaways of the reform is the reduction of GST rate slabs from four to two, which AREIDA believes will ease inflationary pressures and benefit all sections of society. For the real estate and construction industry, the most impactful change is the reduction of GST on cement from 28% to 18%. According to AREIDA, this will lower overall construction costs by about 5%, savings that developers say will be passed on to homebuyers. The move is expected to make housing more affordable and fuel growth in the real estate market. “This is a landmark reform and a game-changing initiative that will stimulate demand, support manufacturers, suppliers, and developers, and ultimately benefit the common man,” said P.K. Sharma, President of AREIDA.
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