Real estate in GST undesirable, now and always

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From: Buisness-standard By Sukumar Mukhopadhyay
Recommended by: business-standard


There is much talk about including immovable property in the goods and services tax (GST) base. It has been argued it would then be a more comprehensive tax structure, with greater transparency and less evasion. Theoretically and economically, this is not rational or desirable.

Even from the point of view of timing, it is a most inappropriate time. For, this is a time for consolidation of whatever GST has been introduced. There are issues on rates of duty, revenue loss, procedural problems, too much paperwork, severe protest from small scale industry, passing on the ...

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