ALSO READTax evasion: Real estate coming under GST? Council to decide at Nov meet GST on real estate likely to be a lengthy journey Newsmaker: Sushil Kumar Modi, the return of GST's troubleshooter GST will not push real estate prices up, feel industry experts How will GST impact the Indian real estate sector?
Nitish said Bihar was among the first states to have raised this demand at a GST Council meeting. "We have always supported the GST and other measures that targeted black money holders. In fact, Bihar was among the first states to have raised such a demand," Kumar, flanked by deputy chief minister Sushil Modi, told reporters on the sidelines of his weekly "Lok Samvad" on Monday. Sushil Kumar Modi, Bihar's finance minister, is a member of a technical committee on the GST.
Jaitley, while delivering the "Annual Mahindra Lecture" on India's tax reform at the Harvard University, said that the real estate was one sector that has witnessed maximum tax evasion and cash generation. "The one sector in India where the maximum amount of tax evasion and cash generation takes place is real estate which is still outside the GST. 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," said the FM.