FTCCI hosts programme on GST, I-T Act
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Hyderabad: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) in association with the National Real Estate Development Council (NAREDCO) Telangana organised a programme in Hyderabad on ‘GST and Tax Implications on Land Ownership.’
The programme was designed to understand the procedure and rights during the search operations under the GST and Income Tax Act and Implications of GST on the land owner’s share of the built-up area.
Delivering his opening remarks, Meela Jayadev, president, FTCCI, said: “Affordability and accessibility to own a land is one of the factors that influence the growth of the market for landowners and developers in the real sector. In any City, this is impacted by the GST and other taxes imposed on buying and selling of the land. In this regard, FTCCI had also submitted its recommendations in the Union pre-Budget Memorandum for Affordable Housing Norms and Home Loan Tax Rebates, for boosting investments in the real estate sector.” FTCCI in a press note said that the panel discussions shed light on understanding the value, time and place of supply of land under GST Law.
