CREDAI welcomes GST rate rationalisation, says direct impact will be minimal

Chennai, Sept. 4 -- CREDAI today welcomed the GST rate rationalisation announced byUnion Finance Minister Ms Nirmala Sitharaman and said the direct impact will be minimal.

Reacting to the GST rate cuts, CREDAI President-elect Mehul H Doshi, in a statement here,said "We welcome the rationalisation of rates. While the direct impact will be minimal as theonly major change is the reduction of rates on Cement from 28% to 18%."This will have a marginal impact on construction cost and apartment prices, he said.

However, the reduction in GST rates on many other items of household consumption willleave larger disposable income in the hands of consumers which will lead to increase indemand for houses.

"Some of our representations were not consider...