NAREDCO requests govt to reduce GST on raw materials

The National Real Estate Development Council (NAREDCO) is asking the government to cut the Goods and Services Tax (GST) on commodities, including steel and cement.

The Indian real estate sector is facing a huge problem of rising prices of commodities including steel and cement. Furthermore, the 28% GST on both commodities adds more burden, according to the developers.

NAREDCO West Vice President and Partner of Prem Group Hitesh Thakkar told media that imposing 28% GST on cement and steel from developers is wrong, especially at a time when raw material prices are already high.

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