- Gujarat Real Estate Regulatory Authority (GujRERA) has launched a new portal aligned with RERA Act and GujRERA rules
- The portal ensures accurate information about project stage is provided to Income Tax and GST departments
- Developers previously submitted outdated photographs and provided misinformation to manage tax liability
- The new portal mandates real-time photographs of the project site to eliminate concealing details from tax authorities
- RERA 2.0 requires developers to report actual physical progress using an app launched by Gujarat RERA authority
- Due diligence processes related to town planning, finance, and legal aspects will now be conducted simultaneously in the revamped portal
- The changes aim to streamline the registration process and ensure faster turnaround.
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.
