GST on land leasing, renting of commercial space to affect multiple sectors

Not just real estate but transport and warehousing sectors would also be affected if the government goes ahead with its plan to levy the goods and services tax (GST) on leasing of land, renting of commercial space as well as EMIs paid for the purchase of under-construction houses. According to industry experts, bringing leasing of land under the GST ambit comes as a surprise to many as it was not supposed to be a part of it earlier. However, its effects would be offset by tax credits that people would get in return for paying GST. 

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