Budget Expectations: Exempt service tax on immovable property rentals: Hypercity

By Mark Ashman, CEO, HyperCITY

We expect the Goods and Services Tax (GST) to be rolled out at the earliest as it would help in reducing the number of different laws/taxes across state. Other expectations from the Budget include that retailers should be exempted from service tax on renting of immovable property. Retail should be included under priority sector category to enable retailers to raise funds at reasonable costs. The major impetus expected is that the budget should enable consumption growth.

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