Push for inclusion of real estate, land under GST ambit

Delhi Deputy Chief Minister Manish Sisodia will push for inclusion of real estate in the ambit of the Goods and Services Tax (GST) at the two-day GST council meeting in Srinagar later this week.

20 meetings

After 20 meetings with different stakeholders over the last two days, Mr. Sisodia, who also holds the Finance portfolio, has framed the broad contours of the implementation of the tax regime in the Capital, which he will present at the meeting.

The Delhi government is understood to be in favour of land and real estate being brought within its fold, keeping in line with the AAP government’s anti-graft credentials, in addition to consumer durables being taxed at the lowest slab to make the GST regime consumer-friendly.

According to a source, the issue of dual control of GST would also be broached by the Delhi Finance Minister. In fact, the AAP’s trade body, the AAP Trade Wing, had recently given a slew of suggestions to Mr. Sisodia for consideration and to be brought to the notice of the Centre.

These included abolition of extra taxes being levied by States after implementation of GST, no change in tax rates for five years unlike an increase in sales tax over time and the decision to raise taxes to be taken by Parliament when required instead of empowering individual States.

Other suggestions

The trade body also suggested waiving off penal provisions such as jail term for five years for issues with accounting books and transaction history, timely refund of input tax to business owners and public awareness campaigns on features of the GST to educate small businessmen. Mr. Sisodia had at a seminar on GST in February announced that the government would undertake intensive consultations on the issue of bringing land and real estate under GST to uproot corruption from government offices engaged in public dealing and levy of multiple taxes in transactions related to real estate.

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Printable version | Sep 30, 2020 4:04:39 AM |

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