Land, real estate should be brought under GST: Delhi deputy CM

[] Land and real estate should be brought within the Goods and Services Tax regime and consumer durables should be taxed at the lowest slab, to make the new indirect tax regime consumer friendly, Delhi’s deputy chief minister Manish Sisodia has said

Delhi’s deputy chief minister and minister of finance, Manish Sisodia, on February 9, 2017, said that keeping land and real estate outside the purview of the Goods and Services Tax (GST) and a higher taxation slab for consumer durables, would kill its basic purpose.

You are reading: Land, real estate should be brought under GST: Delhi deputy CM

Read also : RBI cuts key rate by 0.25% and urges banks to pass on benefits to customers

Addressing the ‘National GST Conclave: One Nation One Tax-Pivotal Tax Reforms’, organised by the PHD Chamber of Commerce and Industry, Sisodia said dual control of GST also defeated its intended objectives and sought more intense consultations on the issue in future GST Council meetings, arguing that the objective of the GST should be consumer and trader-oriented and it should not entirely aim at raising taxation with higher rates.

[] Credai expects GST rate to be neutral for housing sector

Read also : Home automation: The next wave of change in the real estate industry

Somehow, there couldn’t be an absolute consensus on the inclusion of land and real estate within the ambit of GST, at number of GST Council meetings of all the states finance ministers, he lamented. “Consumer durables such as televisions, mobiles, electric appliances and a host of similar such articles, should not be taxed luxuriously. That is our view and we will continue to articulate them whenever necessary, although the GST tax rates have yet to be finalised,” he said.

Najib Shah, chairman of the Central Board of Excise and Customs (CBEC), asked the industry not to keep seeking exemptions under the GST regime, as most of these exemptions would go away, after it is put in place. Shah also clarified that the anti-profiteering clause in the GST law is there as an enabler and the industry should not read too much on it, promising that post GST, a host of indirect taxes would be subsumed in it, making the new law user friendly, a PHD Chamber statement said.

Copyright belongs to:

Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published.

Back to top button