Builders' Association of India seeks cement regulator

To secure the smooth expansion of India's construction sector, the Builders' Association of India (BAI) highlighted the need for creating a cement regulator.

Subcontractors in the construction sector are still levied a general sales tax (GST) of 18 per cent, according to the BAI, who emphasised the need to reduce the tax.

The establishment of a cement regulatory authority will help control pricing and prevent cartelisation by cement producers, said B Seenaiah, BAI chief patron.

“The subcontractors in the construction sector are still levied GST of 18 per cent which has to be reduced further. Also, out of the Real Estate Industry GST of 18 per cent, six per cent is regarded as land value. Land valuation deduction under construction of complexes should be based on actual cost of the land or should be based on value mentioned in the ready-reckoner,” he said.