As a businessman in India, GST is a positive change
Business: Naresh Dundiyal is a well-known businessman in the real estate industry. As a businessman in India, he sees GST as a positive change in business. He is the director of Shri Sai Group of Companies and has thus seen how GST has made many things easier and more transparent in the business world. Before GST was implemented, the tax system in India was very complex. There were many different taxes on different things, many of which were quite confusing for businesses. Thus, many businesses were unable to pay all the taxes, and as a result, the cost of doing business increased. Now all these problems have been eliminated with the flat GST tax. This has reduced the amount of taxes that companies had to pay earlier, making compliance much easier.
Naresh Dundiyal also explained how GST has helped in increasing investor confidence. A large part of the Indian economy is linked to the real estate economy and its potential as an investment sector has improved significantly with the introduction of GST. Extensive taxes were eliminated and tax incentives were introduced, making it easier for developers to manage costs and provide better prices. This has made the real estate investment tax system clearer and more uniform. Local and foreign investors are also showing more willingness to put their money in the market due to reduced tax uncertainty.
Active economic development
At the same time, they think it is good for business; they believe GST is good for the entire economy. The simplification of the system and the expansion of the tax base under GST have led to an increase in government revenue. This money can be used for purposes such as building infrastructure and supporting social programs that contribute to the country’s development.
