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The issue of tax implications of transferring leasehold land has come to the fore once again as the authorities have started to issue notices to recover dues for such a transfer. This has sparked a significant debate among industry stakeholders as it is expected to have a major impact on future transactions and the broader real estate market.
Chief minister Pramod Sawant on Friday said the recently reconstituted group of ministers (GoM) on real estate sector were of the opinion that GST on housing should be bare minimum to make housing affordable for the common man. The final decision will be taken at the next meting which will take place in Goa either on September 23 or 24, said Sawant, who heads the GoM.
The reduction of Goods and Services Tax (GST) and rationalisation of taxes are essential to boost demand for affordable housing, according to Anshuman Magazine, Chairman and CEO of CBRE for India, South-East Asia, Middle East and Africa.
In a major ruling, Telangana High Court has dismissed a writ petition by a realtor challenging GST levy on ‘transfer of land development rights’ (TDR) on a Joint Development Agreement (JDA) for residential projects. This means notification for imposing tax…
Realty experts and developers want the government to rationalise Goods and Services Tax (GST) on under-construction properties to encourage their sales. The sale of under-construction properties has decreased as buyers have to pay the GST, in addition to stamp duty…
The Kochi Zonal Unit of the Directorate General of GST Intelligence (DGGI), which has jurisdiction all over Kerala and Lakshadweep, has detected GST evasion of around Rs. 420 crore. It has realized around Rs.115 crore of the tax amount evaded…