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‘Govt to discuss bringing real estate under GST in November’
The issue of bringing real estate under the GST's ambit will be discussed next month, Finance Minister Arun Jaitley said on Thursday, as he acknowledged that it is the one sector where maximum amount of tax evasion and cash generation takes place.
The matter will be discussed in the next meeting of the GST Council to be held on November 9 in Guwahati, Jaitley said while delivering the 'Annual Mahindra Lecture' on India's tax reforms at the prestigious Harvard University. “The one sector in India where maximum amount of tax evasion and cash generation takes place and which is still outside the GST is real estate. Some of the states have been pressing for it. I personally believe that there is a strong case to bring real estate into the GST,” Jaitley said. The Goods and Services Tax (GST) was implemented from July 1 this year. It brings the economy under a uniform tax regime. “In the next meeting itself, we are addressing one of the problem areas or at least (having) discussion (on) it. Some states want, some do not. There are two views. Therefore, by discussion, we would try to reach one view,” he said.
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Sunday EditionView All
15 Jul 2018 | PTI | New Delhi
Amid row over alleged use of derogatory language in a web series while referring to former Prime Minister Rajiv Gandhi, Congress chief Rahul Gandhi on Saturday said the BJP and the RSS believe that freedom of expression must be policed, while he regards it as a fundamental democratic right. “My father lived and died in the service of India...
STATE EDITIONSView All
21 Jul 2018 | Staff Reporter | Raipur
Chief Minister Raman Singh on Friday expressed profound grief over the death of former State Finance Minister Dr Ramchandra Singhdeo. The Chief Minister reached the residence of legendary leader in the capital and paid floral tributes...