Govt will dis­cuss hav­ing real es­tate un­der GST: Jait­ley

The Free Press Journal - - FRONT PAGE -

The is­sue of bring­ing real es­tate un­der the GST's am­bit will be dis­cussed next month, Fi­nance Min­is­ter Arun Jait­ley said on Wed­nes­day, as he ac­knowl­edged that it is the one sec­tor where the 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 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.

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