Developer’s Confederation plans to oppose proposed Goods and Services Tax

Added: (Mon Aug 30 2010)

Pressbox (Press Release) - Confederation of Real Estate DevelopersAssociation of India (Credai) plans to file a case against the proposed Goods and Services Tax (GST).
Acording to the national Vice president of CREDAI Mr Prakash Challa “Currently we are collecting it from our customers which we don’t want to. Soon we will file a case at the national level,’’.
He said the service tax would only escalate cost (to customers). Developers collect money either by charging 4.12 per cent of the construction cost or by collecting 10.3 per cent from the overall saleable value.
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