GET Stock QuotesNews18 APP
News18 English

SPONSORS

Powered by cricketnext logo
»
1-min read

Bring Real Estate Under GST: Sisodia Writes to Arun Jaitley

In a letter to Jaitley, Sisodia said if real estate comes under the new indirect tax regime, exorbitant hike in land prices could be checked and the flow of black money curbed.

PTI

Updated:October 15, 2017, 11:12 PM IST
facebookTwittergoogleskypewhatsapp
Bring Real Estate Under GST: Sisodia Writes to Arun Jaitley
Delhi Deputy Chief Minister Manish Sisodia addressing a press conference in New Delhi (File photo/PTI)
New Delhi: Delhi Deputy Chief Minister Manish Sisodia on Sunday wrote to Union Finance Minister Arun Jaitley, demanding that the real estate sector be brought under the ambit of Goods and Services Tax (GST).

In a letter to Jaitley, Sisodia said if real estate comes under the new indirect tax regime, exorbitant hike in land prices could be checked and the flow of black money curbed.

Sisodia, who also holds the finance portfolio, said he had no hesitation in stating that "extraordinary political willpower will be required for taking this step".

The minister has demanded that the matter of bringing the real estate sector under the GST regime be included in the agenda for the next GST Council meeting to be held at Guwahati on November 9.

"My view is that if GST is implemented in all steps involved in development of real estate, then every recorded transaction will lead to tax input credit and exorbitant hike in land prices will be checked, entire chain will remain intact and flow of black money in real estate could be curbed," Sisodia said in the letter.

He hoped that the GST Council was in a position to take a call on the real estate sector in its next meeting.

Since the implementation of GST in July, the Delhi deputy chief minister has been demanding that real estate be brought under it.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jubilant Food 2,093.30 +149.95 +7.72
Yes Bank 349.35 +8.15 +2.39
ITC 274.55 +1.15 +0.42
ICICI Bank 353.60 +7.45 +2.15
SBI 309.25 +6.00 +1.98
Company Price Change %Gain
ICICI Bank 353.55 +7.45 +2.15
HDFC 1,900.45 +3.45 +0.18
Sunteck Realty 417.15 +18.95 +4.76
Power Grid Corp 196.00 -1.20 -0.61
Maruti Suzuki 9,321.35 -37.65 -0.40
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 1,301.80 +58.10 +4.67
Adani Ports 433.45 +17.20 +4.13
Bajaj Finance 1,701.90 +41.20 +2.48
Yes Bank 349.35 +8.15 +2.39
ICICI Bank 353.60 +7.45 +2.15
Company Price Change %Gain
Adani Ports 433.75 +19.40 +4.68
Yes Bank 348.30 +8.05 +2.37
ICICI Bank 353.55 +7.45 +2.15
SBI 309.05 +6.30 +2.08
TCS 2,954.75 +44.65 +1.53
Top Losers
Company Price Change %Gain
Ambuja Cements 268.60 -7.05 -2.56
UltraTechCement 4,300.00 -108.65 -2.46
Infosys 1,143.45 -9.25 -0.80
Sun Pharma 572.10 -4.60 -0.80
Maruti Suzuki 9,323.95 -44.75 -0.48
Company Price Change %Gain
Infosys 1,143.25 -9.50 -0.82
Sun Pharma 572.00 -4.25 -0.74
Maruti Suzuki 9,321.35 -37.65 -0.40
ONGC 193.60 -0.45 -0.23
NTPC 172.35 -0.15 -0.09

Live TV