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Govt constitutes Group of Ministers to boost real estate sector under GST regime
The Central Government has constituted a seven-member Group of Ministers (GoM) to boost real estate sector under GST regime.
Deputy Chief Minister of Gujarat Nitin Patel will be the convener of the GoM. Finance Ministers of Maharashtra, Karnataka, Kerala, Punjab and Uttar Pradesh and the Panchayat Minister of Goa will be the members.
In its latest meeting , the GST Council had decided to set up the GoM.
The committee will examine legality of inclusion and exclusion of land or any other ingredient, in composition and suggest valuation mechanism.
It will also examine various aspects of levy of GST on Transfer of Development Rights and Development Rights in a Joint Development Agreement.