• Recommendations of 33rd GST Council Meeting

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    Recommendations of 33rd GST Council Meeting

    The 33rd GST Council meeting held on 20.02.2019 and adjourned meeting on 24.02.2019 made the following recommendations:

     

    Extension in due date of Form GSTR 3B

    Ø  The due date of filing of return in Form GSTR 3B for the month of January, 2019 extended upto 22.02.2019.

     

    Ø  However, for registered persons whose principal place of business is in the State of Jammu and Kashmir the last date shall be 28.02.2019.

     

    Ø  Change in rates for Real estate (housing)

    Ø  Under construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale (other than affordable housing segment): from 12% (with ITC) to 5% (without ITC)

     

    Ø  Affordable housing segment: from 8% (with ITC) to 1% (without ITC)

     

    [Affordable house will mean a residential house/ flat of carpet area of upto 90 sqm in non-metropolitan cities/ towns and 60 sqm in metropolitan cities* having value upto Rs. 45 lacs (both for metropolitan and non-metropolitan cities)].

     

    *Metropolitan Cities are Bengaluru, Chennai, Delhi National Capital Region (NCR) (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (whole of Mumbai Metropolitan Region (MMR)].

     

    Ø  The new rates shall be applicable from 01.04.2019 after notification.

     

    GST exemption on TDR/ JDA, long term lease (premium), FSI: 

    Ø  Intermediate tax on development right, such as TDR, JDA, lease (premium), FSI shall be exempted only for such residential properties on which GST is payable.

     

    Tax rate on lottery

    Ø  GST Council decided that the issue of tax rate on lottery needs further discussion in the GoM constituted in this regard.

     

     

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