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Government to Review GST Tax Rate, Composition Scheme for Real Estate Sector
January 17, 2019
In an effort towards possible rationalization of the Goods and Services Tax (GST) in the real estate sector and the introduction of a composition scheme, the government has set up a ministerial panel that will be headed by Gujarat Deputy Chief Minister Nitin Patel.
On January 10, the GST Council decided to set up a 7-member Group of Ministers (GoM) committee that will look into boosting the real estate sector. It will analyze various aspects of the system including the tax rate, legality of inclusion/exclusion of land, composition, etc.
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