Update on 34th GST Council Meeting dated March 19, 2019

by | Mar 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.

To Read the Update in detail, Please click on the link.

NITYA’s Insight – Update on 34th GST Council Meeting

Hope you find this an interesting read. Please feel free to share your comments / feedback on the same.

0 Comments

Archives