In the last one year, Indian economy has seen unprecedented structural changes that has affected the real estate and construction industry. One such key change has been the introduction of GST which is having a significant impact on the Built Environment sector.
In order to develop a better understanding of the length and breadth of these impacts, on 22 Feb 2018 the School organized a dialogue on the theme ‘Impact of GST on pre-contract and post-contract stages, including claims in construction projects’
at School of Planning & Architecture, New Delhi.
Consisting of five panelists, representing different stakeholders - from industry leaders to taxation experts, the panel discussion tried to find answers to some of the pressing questions of the hour like:
How will the impact of GST affect the interests of developers, contractors/sub-contractors and consultants during the pre-contract and post-contract stages of construction projects?
What are the likely implications on claims and costs arising out of the introduction of GST including free movement of Goods and Materials?
How will the end-investor sentiment and end-user interests be affected for ongoing projects?
What will be the impact of GST on the growth of housing and infrastructure sector?
The two and a half hour session began with Dr. Joseph V Thanikal MRICS, Associate Dean & Director, School of Construction, setting up the context for the panel discussion to follow. The discussion was chaired by Prof. Vinod Nakra FRICS, Prof. Emeritus, RICS SBE, Amity University and the panelists included Mr. Vivek Rai, Sr General Manager, Simplex Infrastructures Ltd., Mr. SK Jain, Adjunct Professor, RICS SBE, Amity University, Mr. Nimish Gupta FRICS, Director Qonqests Technical Solutions, Mr. Rajan Gupta, Partner-Corporate/M&A and Indirect Taxation and Mr. Ankit Gulgulia (Jain), Ankit Gulgulia & Associates, Chartered Accountants.
Right after the panel discussion, the house was declared open for the Q & A session where the participants had the opportunity to raise their queries before the panelists. Post the open house, Dr. Vanita Ahuja MRICS, Professor and Program Director, School of Construction delivered the vote of thanks to mark the end of the Dialogue which remained a success with an attendance of over 70 participants.