Quick Summary
The Goods and Services Tax (GST) Council is poised to provide clarity regarding the exemption of the Real Estate Regulatory Authority (RERA) from GST payments, a senior official has revealed. RERA, established to regulate and facilitate the real estate sector, is positioned under Article 243G of the Constitution, which governs the powers, authority, and responsibilities of panchayats. Discussions have ensued regarding the applicability of GST to RERA, with implications for the real estate indust
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FAQ :
The upcoming GST Council meeting aims to clarify the applicability of GST to RERA bodies.
Questions have arisen due to RERA's constitutional framework and its role as a regulator and facilitator in the real estate sector.
Discussions with RERA officials suggest that GST does not apply to RERA bodies.
RERA bodies are funded by respective state governments, and imposing GST would be akin to taxing the state governments themselves.
Excluding RERA from GST could potentially reduce expenses for developers and homebuyers, especially given the ineligibility of Input Tax Credit in the residential real estate sector.
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