The issue of imposing goods and services tax (GST) on services related to redevelopment projects by cooperative societies is unlikely to be discussed at the upcoming GST Council meeting on October 7. Highly placed sources reveal that the Group of Ministers (GoM), formed in 2019 to address real estate issues, has not yet submitted its report to the Council. The contentious matter revolves around whether GST can be levied on the transfer of development rights, with experts arguing that, according to Schedule 3 of the CGST Act, land and buildings are neither goods nor services. The issue may face further deferral until the GoM submits its report.
Discussion on GST for Cooperative Society Redevelopment Projects Likely Deferred
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