GST will not push real estate prices up, feel industry experts

Real estate prices would be off-set by 'input tax credit' under the GST law

Arvind Parashar, an engineer with an IT firm, got a rude shock a few days back when he got an email from his real estate developer. The developer in the mail asked him to either pay the outstanding amount for his three-bedroom flat in Delhi NCR immediately or get ready to pay a higher amount post implementation of goods and services tax (GST) in July.

On calling the developer, he was told by the staff that to be fully compliant, the company would enhance its “demand-cum invoices” as per GST rules and regulations. “We therefore would like to inform you that