GST Council to discuss bringing real estate under its ambit: Jaitley

Washington, October 12 : Identifying real estate as the one sector where maximum amount of tax evasion takes place, Finance Minister Arun Jaitley on Thursday said there was a strong case to bring it under the ambit of the GST.
The matter will be discussed in the next meeting of the GST, which will be held on November 9, in Guwahati, Jaitley said, while delivering a lecture at Harvard University.
“The one sector in India where maximum amount of tax evasion and cash generation takes place and which is still outside the 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,” Jaitley said, while delivering the ‘Annual Mahindra Lecture’ on India’s tax reforms.