PANAJI
The Goods and Services Tax Council on Monday accepted Chief Minister Pramod Sawant’s suggestion that input tax credit be allowed on purchase of demo cars by authorised dealers which they use for test drives to new customers.
Sawant had raised this issue at 54th Council meeting on behalf of Goa and had requested a clarification for allowing this ITC.
After detailed discussion, the GST Council accepted this proposal and agreed to issue suitable clarification to allow this ITC which was blocked on purchase of demo cars used for promoting sale of such vehicles.
With this decision, all authorised car dealers in Goa as well as India will benefit.
REAL ESTATE: A Group of Ministers (GoM) on boosting real estate sector has been reconstituted with Sawant as its convener and Dy CM of Bihar, Dy CM of Maharashtra, Finance Ministers of UP, Gujarat, Kerala, Punjab as members.
A meeting of this GoM was last held at North Block, New Delhi on August 22.
At today’s GST Council meeting, Sawant made a brief presentation giving details of work done by the GoM and informing that next meeting is fixed on September 24 in Goa for completing the task of giving relief to real estate sector for boosting its growth.
Several decisions taken by GST Council at today’s meeting will benefit the trade and industry and help the business and economy to grow faster.
