The GST Council in its meeting headed by the FM Arun Jaitley deferred the decision on tax rates on lotteries and real estate till Sunday, 24-February and extended the last date for businesses to file sales returns for January till Friday, i.e. up to 22-February.
Briefing media reporters post meeting of the GST Council today, the finance minister said, owing to the rush of filing of returns, the due date has been relaxed till February-22 for all states; and February-28 for Jammu and Kashmir.
It was hoped that the GST would be reduced on under-construction houses to 5pc and affordable houses to 3pc from the current 12pc and 8pc respectively.
With regard to GST rate on under-construction housing properties, Jaitley said, since some states wanted physical meeting for this agenda, therefore, the GST Council would meet again on February-24 to take a final decision.