Author: Adv. Vikas Ambekar & Dr. Malhar Kolhatkar
DOI Link: https://doi.org/10.70798/Bijmrd/04021014
Abstract: Integrating goods and services taxation is a world class tax system as it increases tax revenue in major economies like India. It is a significant breakthrough towards comprehensive indirect tax reform in India. The Construction sector contributes significantly to the national economy and is the largest employment provider.This paper examines the impact of GST on construction companies, focusing on both the opportunities and challenges created by the new tax regime. Data is analyzed through literature review, secondary reports, and stakeholder insights. Findings reveal that while GST offers long-term benefits such as transparency, streamlined taxation, and formalization of the sector, it also introduces challenges like increased compliance burden, higher tax rates on key materials, and working-capital pressures for small contractors.
Keywords: NEGST, VAT, Service Tax, Excise, Entry Tax.
Page No: 71-76