A Group of Ministers (GoM) has been constituted for boosting the Real Estate Sector under the GST regime by providing a Composition Scheme for Residential Construction Units among others.
About:
Background: The decision was taken in pursuance of decision in the 32nd Meeting of GST Council held on 10th January, 2019 at New Delhi.
Composition: Nitin Patel, Deputy Chief Minister of Gujarat will be the Convener of this 7-Member GoM.
Terms of Reference (ToR) for the GoM:
Analyse tax rate of GST for boosting the Real Estate Sector under GST regime by providing a Composition Scheme for Residential Construction Units.
Examine various aspect of levy of GST on Transfer of Development Rights (TDR) and Development Rights in a joint Development Agreement and suitable model.
Examine and suggest any other aspect relevant to boost Real Estate Sector, which may be brought to the notice of GoM.
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