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Real Estate Forum on Gst Bill

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: Center is agreed to accept demands set by the opposition Congress party to back a landmark tax reform, raising hopes a political stand off that blocked the measure throughout last year might be resolved.
Latest Answer: I completely agree with Ashish that 18% GST will skyrocket the inflation and hence it is against the poor people. If Congress is not willing to support GST it may be because it wants to do tit-for-tat for the reason that BJP oppose GST when Congress was in power.
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Q: GST bill, if cleared by the Parliament, can stabilize or even reduce cost burden on home buyers.

Latest Answer: It will be a great move if such happens. Also stamp duty is not proposed to be incorporated under GST and will thus continue to remain as it is at present. So, decreased cost of construction will take place once a lower bracket of GST is applied as the developers will be liable to pay much less than today, thus allowing cost of units to fall which will directly benefit the end users.
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Q: Government will make a fresh proposal to pass crucial bills on GST and real estate in the last week of the Winter session.
Latest Answer: As per Parliamentary Affairs Ministry, 10 Bills passed by Lok Sabha are still to be taken up in Rajya Sabha. In the Lok Sabha, Government has proposed to take up 9 items of legislative and financial business during next week of winter session. Of these, time has been allotted for 7 items. A heavy agenda of 16 items is due to be taken up in Rajya Sabha which lagged behind Lok Sabha in transaction of business this week due to disruptions and forced interruption.
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Q: How do you see India's economic growth recovering in the next year?
Latest Answer: Hi all, Whats your outlook on the rupee?
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Q: Being a Constitutional amendment, the GST Bill has to be approved by 2/3 majority in both Houses and half of the state assemblies. Lok Sabha has already passed the Bill.

Latest Answer: For the time being, government is busy in back channel negotiations with Congress to get its support. Once Congress chief Sonia Gandhi is back from the US, there will be more clarity on the main opposition's stand.
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