Meeting with GST Commissioner

CREDAI – NATIONAL delegation comprising of functionaries met Shri P.D Waghela, GST Commissioner and coordinator GST council and law committee along with his team of senior officers in Ahmedabad on February 28, 2018.

Following functionaries were part of the delegation: 

1. Mr Jaxay Shah
2. Mr Boman Irani
3. Mr Mayur Shah
4. Mr Pankaj Goel
5. Mr Shekhar Patel
6. Mr Manoj Gaur

Subject Matter Experts:

1. Sajal Gupta, CFO Rustomjee Group
2. Harsh Shah, Partner, Economic Law Practice

Commissioner and his team was quite receptive to issues faced by Industry and promised to take it ahead with GST council and Govt.

Following were the key issues discussed:

1. Higher land deduction in Metro cities instead of astandard 1/3rd deduction
2. Development rights, TDR, lease premiums (payable toGovt / Landownerpursuant to long-term lease) flowing landowner/ Govt / SRA/ Society members to developers to be exempt from GST
3. GST payable on construction services provided to existing slum dwellers/members in a scheme of SRA / society redevelopment should be available as input credit to developers
4. Rent on commercial properties should be at alower rate as no input credit available on construction cost
5. Service tax / GST paid on cancellation should be allowed to be adjusted thru credit note process
6. Few other important issues requiring clarification from GST council

The suitable plan has been chalked out to systematically follow up these issues with the commissioner and his team.