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.