Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax Sale of land and buildings will be however out of the purview of GST , the new indirect tax regime. Thus GST can't be levied in those supplies. 'Goods' in earlier drafts of the bills were defined as every kind of movable property other than money and securities but includes actionable claim. 'Services' were defined as anything other than goods. "The government is trying its best to make GST litigation free.

Source: Economic Times March 28, 2017 10:41 UTC