News & Media 3rd Apr 2024
Amidst the complex landscape of GST, the real estate industry finds itself navigating through unprecedented challenges. Recently, GST authorities have started issuing notices demanding tax from the developers on the charges paid to local bodies like Municipal Corporation/SRA/MHADA for permissions and approvals in relation to the construction of real estate projects.
The demand has stirred significant upheaval in the industry, questioning the nature of services rendered and the exemption available under the GST Law. It is crucial for the Government to provide much needed clarity to address the interpretational ambiguities, ease the burden on developers and uphold stability of the sector.
Against this backdrop, Rohit Jain, Partner, and Gourav Sogani, Partner, Economic Laws Practice (ELP) has co-authored an article, “Riding the waves of change: Challenges in the real estate sector post-GST implementation” published by ET Government.
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