Tax relief for real estate under consideration

Tax relief package for the real estate sector are likely to be discussed at the next meeting of the GST Council, which is expected to meet once before the model code of conduct kicks in ahead of the Lok Sabha elections.

Also on the table is  a proposal for duty relaxation for exporters.

Targeting the steady erosion of of export competitiveness across segments,which is especially telling on labour intensive sectors such as textiles and garments,the  Centre is readying a proposal for a duty drawback like scheme under the Goods and Services Tax(GST) regime that could comprehensively compensate exporters for embedded taxes.

Taxes on under-construction residential properties and the affordable housing segment are likely  to be lowered.A ministerial panel has taken up the task of recommending for such revision.