Developers need to invest in project management post GST and RERA
Being termed as a game changer, GST and RERA have been enacted in the country with an aim to improve efficiency in delivering projects and to provide convenience to the investors. As per RERA, for efficient project management, the developers will have to deposit 70% of the amount collected in a separate account to ensure that the amount is not diverted into other projects. In order to avail input tax credit under GST, the developers will have to use only organized vendors and suppliers. Hence, RERA and GST together will ensure timely delivery of projects and efficient project management.