Current Affairs - Persons - Discussion

A Group of Ministers (GoM) headed by Gujarat Deputy Chief Minister Nitin Patel, which has favoured 3% on the affordable housing category, down from 8%, has submitted its report to the Goods and Services Tax (GST) Council for taking it up and decide on it in the meeting to be held on 20th February 2019. The Council might also consider reducing tax on cement from 28%to 18% to boost the realty sector in the meeting.GST is currently levied at 12%on premium housing and 8% on affordable housing on payments made for under-construction properties, where completion certificate has not been issued at the time of sale.No GST is charged if a property is bought after the issue of completion certificate.