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GST Council forms GoM on real estate tax rate

IANS  |  New Delhi 

The (GST) Council on Thursday constituted a seven-member group of ministers (GoM) to look into the issues of GST rates for the sector, Jaitley said here.

The Council constituted another GoM to look into the uniformity of tax rates in case of lotteries, regarding which there are wide differences between the states and the Centre.

The Council would discuss the recommendations of both GoMs in its next meeting which is yet to be scheduled, told reporters after the 32nd meet.

"Two items, one relating to and the other relating to uniformity of taxation on the lottery or other issues arising out of it ... both saw diverse opinion and so in accordance with our past practices, we take a decision for unanimity and consensus.

"So, for both these subjects we have ... for a seven-member GoM has been constituted, which will give us their recommendation. It will be discussed at the next meeting," the said.

It was widely expected that the rate on under-construction residential properties would be brought down to 5 per cent from the current 12 per cent in Thursday's meeting after the in December had said that the January meeting would decide on the matter.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 18:22 IST
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