New Delhi, Nov 06 (ANI): After taking the entire nation by storm, GST has triggered another hot debate to decide the possibility of GST in Real Estate sector.
The sector is expected to feature in the November 9, 2017 GST meet with government hinting that the sector can be considered to be brought under the tax structure.
The big question of the debate is whether all central, state and local taxes on real estate can be subsumed into GST.
The finance minister has implied that it can be considered.
Implemented efficiently and effectively, one GST for real estate across the country is the way to go.
How the states will agree to this and what changes need to be made to compensate them for loss of revenue remain subjects of debate.
However, this is seen as a more transparent way of taxation which will benefit both the industry and the consumer..