Last Updated : Apr 23 2019 11:11PM     Screen Reader Access
News Highlights
Moderate to high polling recorded in 3rd phase            Campaigning picks up for remaining phases of LS polls            SC issues contempt notice to Rahul Gandhi for his remarks on Rafale verdict            Sunday attacks could have been prevented by timely action: Sri Lanka            Bajrang Punia wins Gold in Asian Wrestling C'ship           

National News

Jan 16, 2019
8:38AM

Govt forms GoM for GST issues in real estate

Representational Pic
Government has constituted a seven-member Group of Ministers (GoM) to boost the real estate sector under the GST regime. Deputy Chief Minister of Gujarat Nitin Patel will be the convener of the GoM.

Finance Ministers of Maharashtra, Karnataka, Kerala, Punjab and Uttar Pradesh and the Panchayat Minister of Goa will be the members.
The decision to form the GoM was taken at the GST Council meeting last week. It will analyse tax rate of GST and suggest a composition scheme for residential construction units.

The panel will also look into the issue of the legality of inclusion or exclusion of land or any other ingredient in the composition scheme and suggest valuation mechanism. It will also examine various aspects of the GST levy on Transfer of Development Rights and development rights in a joint development agreement and suitable model.

Currently, GST on the under-construction flats and houses is 12% whereas ready-to-move-in flats with a completion certificate attract no GST.

There are also complaints about the builders not passing on the benefit of input tax credit to the consumers. The Council's law and fitment committee will assist the panel. The officers from the Centre and states can also be invited in the committee for inputs, if required.

   Related News

PM’s Exclusive Interview to DD News

Live Twitter Feed

Listen News

Morning News 23 (Apr) Midday News 23 (Apr) News at Nine 23 (Apr) Hourly 23 (Apr) (2300hrs)
समाचार प्रभात 23 (Apr) दोपहर समाचार 23 (Apr) समाचार संध्या 23 (Apr) प्रति घंटा समाचार 23 (Apr) (2305hrs)
Khabarnama (Mor) 23 (Apr) Khabrein(Day) 23 (Apr) Khabrein(Eve) 23 (Apr)
Aaj Savere 23 (Apr) Parikrama 23 (Apr) Lok Ruchi Samachar 21 (Apr)

Listen Programs

Market Mantra 23 (Apr) Samayki 23 (Apr) Sports Scan 23 (Apr) Spotlight/News Analysis 23 (Apr)
    Public Speak

    Country wide 28 (Mar) Surkhiyon Mein 4 (Apr) Charcha Ka Vishai Ha 17 (Apr) Vaad-Samvaad 16 (Apr) Money Talk 16 (Apr) Current Affairs 22 (Mar)