Amidst the many reforms and revisions in the taxation structure this year, one has been of the removal of Input Tax Credits (ITC). It is believed to reduce the profit margins of developers in the short term and expected to revive demand for under-construction projects, which will offset the impact of the removal of ITC, in the long run.
This new tax structure will not only allow a more balanced sale of inventory between under-construction and ready-to-occupy housing. It will also boost sales of under-construction projects and spur demand for new projects.
Our Director Mr. Rakesh Reddy, authored an article for housing.com sharing his thoughts on this matter. Read the entire article here:
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