You are here: Home » Economy & Policy » News » GST
Business Standard

GST rollout smooth; officials maintaining constant watch: Govt

FinMin also said that construction cost of flats, housing complexes will come down under GST regime

Press Trust of India  |  New Delhi 

GST

The government on Friday said in that roll out of goods and services tax (GST), by and large, has been smooth and it has deployed a large number of senior officials to regularly review the working of the new

The also expressed confidence that construction cost of flats and housing complexes will come down on account of a seamless flow of input tax credit in


In a written reply in Lok Sabha, Minister of State for Finance said the government is regularly reviewing the impact of across the country.

In total, 209 officers of the rank of additional/joint secretary level officers in the central government have been appointed to monitor the impact of at a district level, the minister said.

The feedback received is reviewed by a Central Monitoring Committee headed by the Cabinet Secretary.

"The feedback received from these officers indicates by and large that the roll out of has been smooth," he said.

In another reply, said [the] cost of construction of flats, houses and complexes is "expected" to come down on account of [a] seamless flow of input tax credits of goods and services.

"However, [the] price is a function of demand and supply and many other factors," he added.

He said construction of flats, complex and buildings will have a lower incidence of as compared to a plethora of central and state indirect taxes levied on them in the pre-regime.

said the builders are expected to pass on the benefits of a lower tax burden to the buyers by way of reduction of prices/instalments.

The GST, which subsumes most of the indirect tax levies, was rolled out on July 1.

First Published: Sat, August 05 2017. 00:35 IST
RECOMMENDED FOR YOU