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Hyderabad : The Builders Association of India has demanded exemption of existing projects from GST and said that they are facing a lot of
difficulties with the existing projects which have been sanctioned prior to June 30, 2017, due to imposition of GST.
The Association members who are executing the Government projects and facing problems due to GST, attended a meeting, which was chaired by S N Reddy, National Vice-President of the Association.
Speaking to the media later, S N Reddy and B Sugunakar Rao, Telangana state chairman, stated that all the ongoing projects in private and government sectors in both Telangana and AndhraPradesh States will be affected from September 15, as the contractors would go on a strike demanding exemption of GST on all the existing projects. They said that the meeting decided to demand the Centre to follow the existing procedure in tax (VAT) structure on the ongoing project works and to revise the project cost with GST regime for the balance works without effecting any additional financial burden to the existing contracts.
Sugunakar Rao said: ‘We demand that the Central Government and the Telangana Government pay heed to our demand and take immediate action to save the members working on the existing projects. It is necessary that all existing projects are treated as per old tax structure and thc costs are revised for the balance part of the project to absorb the additional burden of GST. If this is not taken into account the work on these projects will have to be stopped’
