Quick Summary
The fourth meeting of the Group of Ministers (GoM) on boosting the real estate sector, hosted by Goa Chief Minister Pramod Sawant on September 24, 2024, concluded with a key decision to maintain the existing Goods and Services Tax (GST) regime. The GoM ruled out any further exemptions for long-term land leases by private entities, including sector-specific exemptions for tourism purposes. The meeting presided by the Department of Commercial Tax, which was attended by Bihar Deputy CM Samrat Ch
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FAQ :
The Group of Ministers (GoM) decided to maintain the existing Goods and Services Tax (GST) regime and ruled out any further exemptions for long-term land leases by private entities.
No, the GoM ruled out any sector-specific exemptions, including those for tourism purposes, for long-term land leases.
The meeting was hosted by Goa Chief Minister Pramod Sawant.
Other important matters under deliberation included the taxability of construction and exertion services by cooperative societies of housing and the ₹45 lakh affordable house value ceiling.
The next meeting is scheduled for 25th October, 2024.
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