West Bengal FM Amit Mitra wants 1% GST rate for houses up to Rs 40 lakh

Amit Mitra raised certain contentious issues such as the fate of input tax credit if a proposal by a group of ministers on real estate is implemented

Ahead of the second round of the GST Council meet on real estate on Sunday, West Bengal finance minister Amit Mitra has come out with his proposal on tax rates – which ranges from one per cent to 7 per cent.

In a letter to Union finance minister Arun Jailtey, he also raised certain contentious issues such as the fate of input tax credit if a proposal by a group of ministers (GoM) on real estate is implemented. He also asked how a GST regime will treat a complex issue that contains both residential and commercial real estate. 

The GoM had recommended