Bring realty under GST with stamp duty: Assocham

Bring realty under GST with stamp duty: Assocham

If the real estate sector is brought with in the ambit of the goods and services tax (GST), it should be along with the stamp duty and moderate rate, and should not add to the cost of housing and construction, according to an industry body.

The Associated Chambers of Commerce and Industry of India(Assocham) said the Centre is certainly in favour of realty under the GST, but the states have to be brought on board because there are revenue implications.

There are reports that the realty sector may be brought under the GST without stamp duty and other levies like property tax.That will serve no purpose and instead would lead to more confusion, Assocham Secretary General DS Rawat said.

The Business Standard, New Delhi, 15th November 2017

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