GST Council | The Asian Age

Wednesday, Dec 01, 2021 | Last Update : 05:34 AM IST

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Now an effective GST rate of 5% will be applicable on the value of a non-affordable under-construction property, and not 18% on two-thirds of its value, as before.

Builders may pass on input tax to buyers

Affordable home prices may be raised by 2-3%.

05 Mar 2019 2:35 AM

Total income, however, rose to Rs 2,405.89 crore during October-December quarter of 2018-19 fiscal year from Rs 1,855.21 crore in the corresponding period of the previous year. (Photo: File)

DLF's sales bookings to jump over two-fold to Rs 2,400 cr this fiscal

DLF's net profit stood at Rs 4,091.27 crore in the year ago period.

03 Mar 2019 1:44 PM

GST reforms to boost realty demand: developers

To boost demand in the real estate sector, the GST Council in its recently held meeting, slashed tax rates for under-construction flats.

28 Feb 2019 5:02 PM

Goods and services tax council. (Photo: PTI)

Govt detects Rs 20,000 cr GST evasion in April-Feb FY'19

The GST Council, chaired by FM Jaitley decided to cut tax rates on under-construction apartments to five and one per cent, respectively.

27 Feb 2019 2:34 PM

These rates will be without input tax credit availability for the developer. (Representational Image)

Reduced tax rate for real estate to bolster consumer sentiments: ICRA

GST Council in its meeting recommended reduction in GST rate on under-construction residential properties to 1 per cent.

27 Feb 2019 10:24 AM

Finance Minister Arun Jaitley. (Photo: Twitter | ANI)

GST Council defers decision on tax on real estate; extends deadline till Feb 22

The due date for filing summary sales return - GSTR-3B - is February 20.

20 Feb 2019 2:25 PM

N.K. Singh, chairman of the 15th Finance Commission

‘With improved compliance, the GST’s implementation will streamline further’

the GST Council has taken over taxation issues to help the Niti Aayog, says NK Singh.

17 Feb 2019 7:35 AM

The GST Council had constituted a seven-member GoM on January 15 to give a boost to the real estate sector under GST regime.

GoM report on real estate expected soon

A senior government official said the GoM will submit the report to GST Council which is likely to meet on February 20.

14 Feb 2019 10:43 AM

Third time in current fiscal that revenues from Goods and Services Tax (GST) have crossed Rs 1 lakh crore.

GST mop-up rises to Rs 1.02 lakh cr in January

The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh.

02 Feb 2019 2:55 PM

Goyal added that GST has resulted in increased tax base, higher collections and ease of trade. (Phtoto: Representational/PTI)

Budget 2019: GST exemption doubled from Rs 20 to 40 lakhs for small traders

GST rate has been continuously reduced, providing relief of about Rs 80,000 crore annually to consumers.

01 Feb 2019 2:59 PM

The GST Council could be expanded into a Fiscal Council with a broader mandate.

Budget 2019 today needs forward-looking ideas

The revenue from the Central Goods and Services Tax remains significantly below the target of Rs 6 trillion.

01 Feb 2019 12:29 AM

As a last resort, government will go ahead to monetise its holdings in SUUTI that’s valued at Rs 55,000 crore. (Representational Image)

North Block finds ways to meet deficit target

As per 2018-19 budget projections, the Centre is likely to finance Rs 75,000 crore of fiscal deficit from small savings.

30 Jan 2019 10:30 AM

Union finance minister Arun Jaitley (Photo: AP)

GST exemption limit doubled to Rs 40 lakh

GST Council allows Kerala to impose 1 per cent cess on intra-state sales for up to 2 years.

11 Jan 2019 1:11 AM

The GST Council doubled the GST exemption limit to Rs 20 lakh for north eastern states and Rs 40 lakh for the rest of the country.

GST exemption limit doubled to give relief to small businesses

GST Council hikes annual turnover for availing composition scheme to Rs 1.5 crore from Rs 1 crore.

10 Jan 2019 4:00 PM

The GST Council which is scheduled to meet on January 10 will discuss on the recommendations of the ministerial panels.

1 per cent extra cess in calamity-hit Kerala okayed

Kerala had asked the GST Council for levying cess to fund rehabilitation work.

07 Jan 2019 6:17 AM

The council, among other things, would also discuss lowering GST on under-construction flats and houses to 5 per cent from 12 per cent.

Ministerial panels on GST relief to MSMEs, levy of calamity cess to meet on Sunday

The decisions of the two ministerial panels would be placed before the GST Council when it meets next on January 10.

05 Jan 2019 3:21 PM

GST is not levied on buyers of realty for which completion certificate has been issued at the time of sale.

GST relief for MSMEs, homebuyers on the cards

GST Council will consider lowering tax rates on under-construction flats to 5 pc from 12 pc to give a boost to the housing sector.

03 Jan 2019 10:29 AM

In the nine months (April-December) of the current fiscal, the government has mopped up over Rs 8.71 lakh crore from GST.

GST collection falls below Rs 95,000 crore in December

The December revenue collections reflect the purchase and sales activities conducted in November.

02 Jan 2019 1:11 AM

The next GST council meeting is scheduled in January where a new composition scheme will be framed for small services providers.

GST rates may get political tinge in election year

The GST council’s fitment committee would take a final decision with all states on board.

31 Dec 2018 11:03 AM

Finance Minister Arun Jaitley (Photo: ANI)

India working towards single GST rate: Arun Jaitley

The standard rate of VAT and excise was 14.5 per cent and 12.5 per cent respectively.

25 Dec 2018 1:12 AM

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Aakar Patel