Builders body seeks regulator for cement industry

Hyderabad, Jan 5 (PTI) The Builders' Association ofIndia (BAI) today emphasised on the need for setting up a"Cement Regulator" and implement other ...

Hyderabad, Jan 5 (PTI) The Builders' Association ofIndia (BAI) today emphasised on the need for setting up a"Cement Regulator" and implement other reforms and regulatorymechanism for the construction sector to ensure a streamlinedgrowth.

The subcontractors in the construction sector arestill levied GST of 18 per cent which has to be reducedfurther, BAI said in a statement issued here.

B Seenaiah, Chief Patron of BAI, said a "CementRegulatory Authority" will help control the pricing andprevent cartelization by cement manufacturers and unfairpractises.

"In fact, if a regulatory mechanism is in place, thecost of house construction can be reduced to a competitive Rs50 per sq.ft. making housing affordable for all...

"The subcontractors in the construction sector arestill levied GST of 18 per cent which has to be reducedfurther. Also, out of the Real Estate Industry GST of 18 percent, 6 per cent is regarded as land value. Land valuationdeduction under construction of complexes, should be based onactual cost of the land or should be based on value mentionedin the ready-reckoner," B Seenaiah said.

Meanwhile, the release said that the 28th All IndiaBuilders' Convention will be held from January 19-21 inBengaluru. PTI GDKNRB.

This is unedited, unformatted feed from the Press Trust of India wire.

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