Nitish seconds Jaitley on GST push for real estate

Image
Press Trust of India Patna
Last Updated : Oct 16 2017 | 6:07 PM IST
Bihar Chief Minister Nitish Kumar today endorsed Union Finance Minister Arun Jaitley's remarks that he saw a "strong case" for bringing the real-estate sector under the ambit of the Goods and Services Tax (GST).
Speaking on the sidelines of his weekly public interaction programme, Kumar 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.
Sushil Modi is a member of a technical committee on the GST.
At a programme at Harvard University two days ago, Jaitley had said that real estate was one sector that has witnessed maximum tax evasion and cash generation.
"The one sector in India where 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," Jaitley had said while delivering a lecture at the university.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 16 2017 | 6:07 PM IST

Next Story