GST impact: Realty Index top sectoral loser as Govt hikes rate
The government on Thursday spiked the GST rates for the real estate sector. Consequent to this, both Nifty Realty and BSE Realty index were the top losing index on Friday’s early trading session.
The government has hiked the GST rates to 18% from the earlier 12% which will be imposed on construction of building, complex, civil structure. The building or the complex intended for sale either wholly or partially, will also be under the tax regime. Meanwhile, land value has been, for now, exempted from computation of tax liability.
On the BSE realty index, DLF, Indiabulls Real Estate and HDIL are the heavy contributors to the index losses and are pulling it down by 1.43% at around 0946 hours.
Share of Indiabulls Real Estate was down by 2.8%, DLF was down by 2.2% and HDIL down by 2.1%, whereas other stocks such as, Sobha was down by 2.3%, Unitech was down by 1.9%, Omaxe down by 0.5%, Oberoi Realty down by 0.4% and Godrej Properties was down by 0.4%.
On the other hand, Prestige is the only stock among the others to trade in green with a gains of 1.7%.
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Via:: Stock – India Infoline