GST Council defers decision on rate revision for real estate to Sunday

In its final recommendations on real estate, a GoM had favoured lowering GST rates on under-construction houses from 12% with input tax credit to 5% without input tax credit

The goods and services tax (GST) Council on Wednesday  deferred its decision on revising rates for under-construction real estate. The next Council meeting will be held on February 24. Finance Minister Arun Jaitley, in the meeting held via video conference, said the Council would try to take a decision on real estate on Sunday. 

 

In its final recommendations on real estate, submitted on Monday, a GoM headed by Gujarat deputy chief minister Nitin Patel, had favoured lowering of GST rates on under-construction houses from 12 per cent with input tax