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GST Review September-2024

Editorial

Mayur R. Parekh
Month of September is a month of Festivals. Happy Ganesh Chaturthi to all the members and readers of this Esteemed journal. Amid an ongoing legal battle on GST’s application on Joint Development Agreement (JDA) in the real estate sector, the GST Council is expected to look into the issue, as suggested by the Group of Ministers, on September 9. “A Group of Ministers (GoM) is likely to meet soon. One of the key terms of reference is to examine various aspects of GST levied on the transfer of development rights in the Joint Development Agreement and suggest a suitable model. Based on the recommendations of this GoM, the GST Council will consider various options,” a senior Government official said. The GoM has also been asked to examine and suggest a composition scheme or any other scheme, to boost the real estate sector. It has also to examine the legality of land or any other ingredient, in composition and suggest valuation mechanism. .......