CREDAI s next EC-GC is scheduled for July, 22 nd - 23 rd at Hotel Taj Vivanta, Lucknow.

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Collin Crawford
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June 01, 2017 201674 CREDAI Belgavi Hosted CYW CREST EVOLVE the Knowledge Seminar, May 19th 20th CREDAI Belgavi hosted a two-day knowledge seminar - CREST: 'EVOLVE' on May, 19 th 20 th.

In his inaugural address, he urged young builders in the construction industry to be conscious, knowledgeable and anticipate changes that are taking place at a faster pace.

Shah complimented and appreciated Qais Noorani and team Belagavi efforts in organizing this seminar.

1 June 01, CREDAI Belgavi Hosted CYW CREST EVOLVE the Knowledge Seminar, May 19th 20th CREDAI Belgavi hosted a two-day knowledge seminar - CREST: 'EVOLVE' on May, 19 th 20 th. The seminar was inaugurated by President, Shri. Jaxay Shah along with CREDAI Youth Wing members in Belgavi. In his inaugural address, he urged young builders in the construction industry to be conscious, knowledgeable and anticipate changes that are taking place at a faster pace. He also added CREDAI Youth Wing is an integral part of our design entrusted with enriching CREDAI s legacy. Mr. Shah complimented and appreciated Qais Noorani and team Belagavi efforts in organizing this seminar. He said I wish to proclaim from here in Belgavi today that as far as CREDA is concerned, being from tier 2 and tier 3 cities would never be a disqualification or a hindrance. I hope this pioneering event here proves that Belgavi is no less than Bengaluru and shall never be. The event was also graced by CREDAI President Elect, Satish Magar; Secretary, Rohit Raj Modi of Ashiana Homes and Shantilal Kataria of Aditya Group. CREDAI Hyderabad New Office at Lumbini Mall, Road No 2, Banjara Hills Upcoming EC GC CREDAI s next EC-GC is scheduled for July, 22 nd - 23 rd at Hotel Taj Vivanta, Lucknow.

CREDAI s Response on GST "CREDAI welcomes introduction of Goods Service Tax (GST) as a major reform since it integrates all central and state taxes into one comprehensive tax regime for the entire

$However, whereas for all other sectors Health GST Camps is their Organized total indirect by tax CREDAI liability, Chapters for real estate the GST rate fixed at 12% is only a fraction of its tax$ Stamp duty, levied by the states on all immovable property would continue to remain in force even after implementation of GST.

Stamp duty, levied by the states on all immovable property would continue to remain in force even after implementation of GST.

Lastly, stamp duty is levied by the state governments on circle rates or guideline values of property which are arbitrarily determined and far in access of the value at which transactions takes place.

2 CREDAI s Response on GST "CREDAI welcomes introduction of Goods Service Tax (GST) as a major reform since it integrates all central and state taxes into one comprehensive tax regime for the entire country. Trade and Industry are major gainers of GST as it eliminates multiple taxation at the level of States and the Center and the consequent cascading effects. However, whereas for all other sectors Health GST Camps is their Organized total indirect by tax CREDAI liability, Chapters for real estate the GST rate fixed at 12% is only a fraction of its tax burden. Real estate sector is exceptional because GST regime does not eliminate multiple taxation. Stamp duty, levied by the states on all immovable property would continue to remain in force even after implementation of GST. The additional burden on real estate on account of stamp duty averages between 5% to 8% of the value of the immovable property. Secondly, the stamp duty is payable on every transaction. Lastly, stamp duty is levied by the state governments on circle rates or guideline values of property which are arbitrarily determined and far in access of the value at which transactions takes place. Unless abatement for Land is allowed, cost to the end consumer would go up. CREDAI would, therefore, urge the Government to minimize double taxation of real estate by treating land as zero rated under the GST regime. The positive multiplier effect of real estate on other industries would make up the revenue loss and the nation would be thankful for a tax regime consistent with the objective of Housing for All by 2022." CREDAI Makes News!!! CREDAI Chapters Organized Health Camps CREDAI Bengal organized a health camp for construction workers. CREDAI Sangli Blood Donation Camp

CREDAI Skilling Program Skill training program for Bar Benders started at MVV City in

Training program for Masons in Vijayawada under PMKVY 2 through Labournet.

The training was conducted under PNBHFL program through RAGC Convocation ceremony for Asst.

.The training was conducted under PNBHFL program through SLIEM, Kolkata Winners of India

Kong The winners of India Skills Competition 2016, all geared up for World Skills Exposure

An initiative of NSDC to give a run to the trainees before they appear in World Skills

3 CREDAI Skilling Program Skill training program for Bar Benders started at MVV City in Vishakhapatnam under PMKVY 2 through Labournet LEPL Mid Valley City launches Skill Training program for Masons in Vijayawada under PMKVY 2 through Labournet. Convocation ceremony for Carpenter Batch held at Marathon Monte South (Mumbai).The training was conducted under PNBHFL program through RAGC Convocation ceremony for Asst. Mason Batch held at CREDAI Kaushal Kendra, Murshidabad..The training was conducted under PNBHFL program through SLIEM, Kolkata Winners of India Skills Competitions preparing for World Skills Exposure Competition due to be held in Hong Kong The winners of India Skills Competition 2016, all geared up for World Skills Exposure Competition to be held in Hong Kong. An initiative of NSDC to give a run to the trainees before they appear in World Skills Competition due to be held in Abu Dhabi in October These champions are being trained at World Skills Competition (WSC) training centre of CREDAI, run by CREDAI Kushal, Pune in the trade of Bricklaying and Tiling.

4 CREDAI Clean City Movement (CCCM) Workshop & Installation of the new employees

5 CREDAI NATCON 2017, London Registration CREDAI Events Please share information related to upcoming events, conferences, PR related news to Ms. Meenakshi Arora, PR & Communications and Skilling Manager at CREDAI Nation E: M:

Decoding the draft GST law Impact on Real Estate sector

www.pwc.in Decoding the draft GST law Impact on Real Estate sector June 2016 India on the brink of GST The current Indirect tax regime in India provides for a complex tax environment due to multiplicity