Title: Tax systems in India: potency of GST on work contract and real estate sector

Authors: Shahwar Khan; Vikas Singh

Addresses: Faculty of Commerce and Management, United University, Prayagraj, 211012, India ' Department of Humanities and Social Sciences, Motilal Nehru National Institute of Technology, Prayagraj, 211004, India

Abstract: In India, the real estate sector is prosperous but due to multiple taxes, business in this sector is becoming problematic. This study shows the GST impact on the work contract and real estate sector in India which is still unexplored due to advanced development of GST. This research examine the complexity of tax and construction costs before and after the implementation of GST. This study is based on secondary data and different descriptive statistics have been used for analysis. The study revealed that the construction capital cost has been mostly affected by land acquisition and building materials by the implementation of GST, which led to increased property prices. It is concluded that the GST has a positive impact on the work contract and real estate sector in India. The simplification of the tax structure has led to a reduction in the cost of properties.

Keywords: goods and services tax; GST; real estate sector; work contract; tax base; Indian economy.

DOI: 10.1504/IJRM.2024.142326

International Journal of Revenue Management, 2024 Vol.14 No.3, pp.253 - 263

Received: 05 Nov 2023
Accepted: 02 May 2024
Published online: 21 Oct 2024 *

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