34th GST Council Meeting dated March 19, 2019
The GST Council in its 34th Meeting held on March 19, 2019, discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses (‘Other houses’) for ongoing and new projects.
‘Affordable houses’ shall mean:
- Houses with land area up to 60 square meters (non-metro cities) / 90 square meters (metro cities) and value up to ₹45 lakhs; and
- Projects under the existing central and state housing schemes that are presently taxable at 8 percent.
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