Talks on getting real estate under GST next month: Arun Jaitley | Current Affairs, Current Affairs 2018

Talks on getting real estate under GST next month: Arun Jaitley

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In a move aimed at checking tax evasion in the sector known for cash-based transactions and lowering prices for flat buyers in the long-run, the Central government has decided to include Real Estate sector.
Delivering a lecture at Harvard University, Union Finance Minister Arun Jaitely said, the one sector in India where maximum amount of tax evasion and cash generation takes place and which is still outside GST is real estate. Some of the states have been pressing for it. I personally believe that there is a strong case to bring real estate into the GST. The matter will be discussed in the next meeting of the GST, which is scheduled on November.
It should be noted that Petroleum products, alcohol and real estate are three sectors which were kept out of GST as several states were opposed to it.

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