New Delhi – This is what the Union Minister, Arjun Ram Meghwal had to say about the newly implemented Goods and Services tax. He said that the GST is like the daughter in law in the family, who would require and would take some time to adjust. He pointed out that the government brought this new law for the long term growth of the country.
He mentioned in his interview that the real estate companies and the entire industry as well need to communicate and inform the government if they are facing issues and if there are hassles related to the adoption of GST right now.
While addressing a reality conference organized by NAREDCO (National Real Estate Development Council), he said that as the daughter in law joins a family for a new beginning and the family is bound to grow to heights by her presence, similarly by bringing GST into the country’s accounting system we are moving towards achieving new heights and growth.
He expects the country and the real estate sector to reap a lot benefits from this new reform.
This entire conversation happened in a way that he was trying to respond to State Bank of India’s Managing Director Mr. Rajnish Kumar’s comments that there was not much clarity regarding GST right now.
Mr. Meghwal also confirmed that we would bring up any issues related to the GST in the next GST council meeting and would also like to bring forward any procedural matters that eventually would be handled by the TRU (Tax Research Unit).