Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax. Sale of land and buildings will be however out of the purview of GST, the new indirect tax regime. Such transactions will continue to attract the stamp duty, according to the legislations Finance Minister Arun Jaitley introduced in the Lok Sabha yesterday for approval.
Rajat Mohan, Director- Indirect Taxation shares his views on aforementioned story for PTI(News Agency).
(This story has been picked up by 414 other news publication like Economic Times, Business Standard, Mid Day, Times of India, Deccan chronicle, Hindu Business Line, Bloomberg Quint etc.)
Attached are links to the article: