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Navigating GST changes in the real estate and construction ecosystem
The GST Council’s 56th meeting marks an important step in India’s tax reform journey. The decision to rationalize GST rates on key construction inputs reflects the government’s intent to provide an impetus to the sector, which is a critical driver of infrastructure and employment.
The reduction of GST on cement to 18% and on select wood-based products and sand-lime bricks to 5% is a welcome move that can ease input costs and improve cost efficiency, particularly for self-construction and developer-led procurement models. These changes align with the broader objective of making housing more accessible and promoting transparency in pricing.