- Ahmedabad Municipal Corporation (AMC) will sell newly constructed properties instead of leasing them
- This is to avoid paying 18% goods and services tax (GST) that lease deeds would attract
- It is unclear if this policy will also apply to open plots, but sources suggest it will
- The AMC has been trying to sell properties for three years but buyers have been deterred by the GST issue
- In the past, the AMC auctioned off 99-year leases on four plots for Rs 240 crore but had to pay Rs 43 crore in GST
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
