GST cut: States warn of large-scale tax evasion by builders

While there is a general consensus in the GST Council about the need to give tax relief for the housing sector to boost demand, a section of it is concerned about large scale tax evasion by builders and so it wants to ensure that relief should be structured in such a way that revenue leakage is plugged. The proposed GST rate cut with denial of input tax credit to builders would come with a conditi…