‘GST Coun­cil to take up real es­tate’

Hindustan Times (Lucknow) - - FRONT PAGE -

WASH­ING­TON: Real es­tate is the sec­tor in which max­i­mum amount of tax eva­sion takes place, and there is a strong case to bring it un­der the am­bit of the goods and ser­vices tax, fi­nance min­is­ter Arun Jait­ley said on Wed­nes­day.

The mat­ter will be dis­cussed in the next meet­ing of the GST Coun­cil, which will be held on Novem­ber 9 in Guwa­hati, Jait­ley said while de­liv­er­ing a lec­ture.

“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 move would ben­e­fit the con­sumers who will only have to pay one “fi­nal tax”, and “the fi­nal tax paid on the whole prod­uct in the GST would al­most be neg­li­gi­ble,” he said. ››HT BUSI­NESS BOOK II

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