Latest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Reading: NAREDCO President urges govt to cap GST on building materials at 18% – World News Network
Share
Latest World News UpdateLatest World News Update
Font ResizerAa
Search
  • Home
    • Home 1
  • Categories
  • Legal Talk
  • Bookmarks
  • More Foxiz
    • Sitemap
Follow US
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.
Latest World News Update > Blog > Business > NAREDCO President urges govt to cap GST on building materials at 18% – World News Network
Business

NAREDCO President urges govt to cap GST on building materials at 18% – World News Network

worldnewsnetwork By worldnewsnetwork Last updated: August 3, 2025 4 Min Read
SHARE

New Delhi [India], August 3 (ANI): G Hari Babu, President of National Real Estate Development Council (NAREDCO) has urged the government to bring the Goods and Services Tax rates of building materials to the bracket of 18 per cent.
Speaking at the sidelines of NAREDCO’s 17th edition of National Convention in the national capital, NAREDCO President reiterated industry’s demand of Input Tax Credit (ITC) under the Central Goods and Services Act (CGST) on commercial assets constructed for leasing purposes.
“One thing we are asking is the input credit facility for the builders because now it is five percent fixed rate and for affordable housing already one percent is there up to forty five lakh. We are requesting them to increase to sixty lakh. And as far as the material concern there are certain areas where twenty eight per cent GST is applicable for example cement and other materials so it is not a luxury and we want to bring that also to eighteen per cent level. So no GST should be there on building materials more than eighteen per cent that is demand,” he added.
GST has significantly impacted construction industry and real estate industry. GST on construction services and materials is complex, with various rates applied based on the type of service, material, and project. Construction of affordable housing projects attracts a reduced GST rate of 1 per cent while different construction materials have varying GST rates from 5 per cent to 28 per cent.
During the curtain raiser, Delhi Chief Minister Rekha Gupta assured the industry members that “Government just needs 2 years to revamp Delhi and fill the bottleneck of past 10 years of developmental backlog.
“We urge the industry members and developers to come up with the PPP models for developing state of the art hospitals, schools, shopping malls, accommodations and infrastructure and the government will give the full policy and funding support,” she added.
Speaking at the event, Hari Babu affirmed the vision of the body and said, “From retrofitting existing structures to building climate-smart homes, the sector must adopt a forward-thinking approach that doesn’t wait for regulation to act responsibly. Today’s discussions are not just about vision, they are about setting actionable goals.”
Harsh Vardhan Bansal, President, NAREDCO Delhi, shared how the capital’s real estate sector is evolving, “Delhi presents a unique case where infrastructure demand is high, yet land and environmental constraints are very real. The question is not whether we can grow, but how we can grow smarter.
“Our focus at NAREDCO Delhi is to ensure that housing, commercial development, and urban services all move in the direction of sustainability. We are working closely with policymakers and urban planners to push for incentives that reward eco-friendly practices and penalize shortsighted developments. The future belongs to those who are thinking beyond the next quarter, and our goal is to build a future-ready, climate-conscious capital city,” Bansal added. (ANI)

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Previous Article Malegaon Blast Case: Lt Col Purohit criticises original framing of case, calls it “illegitimate acts by people.” – World News Network
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FacebookLike
TwitterFollow
PinterestPin
InstagramFollow

Subscribe Now

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
Most Popular
Harrison Ford recalls how movie executive told him he had “no futire” in Hollywood – World News Network
August 3, 2025
“His presence always brought joy”: Prabhudeva pays tribute to late actor Madhan Bob – World News Network
August 3, 2025
Taron Egerton willing to turn classic American musical “into a film”, says “it would be amazing” – World News Network
August 3, 2025
“We’ll get there one day”: Tom Holland breaks silence on rumours of joining James Bond franchise – World News Network
August 3, 2025
Imtiaz Ali announces Friendship Day-special film ‘Side Heroes’ with Abhishek Banerjee, Aparshakti Khurana, Varun Sharma – World News Network
August 3, 2025

You Might Also Like

Expect pause in next policy meeting, RBI already frontloaded rate cuts: CareEdge – World News Network

3 Min Read

Vietnamese EV maker VinFast inaugurates showroom in Chennai, after Surat – World News Network

3 Min Read

India’s forex reserves rise by USD 2.7 bn to USD 698.2 bn after three-week decline – World News Network

3 Min Read

BSNL and NRL ink MoU to propel Industry 4.0 adoption in India – World News Network

3 Min Read
Latest World News Update
Copyright © 2024 World News Network. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?