A- A A+
Last Updated : Nov 17 2019 11:14AM     Screen Reader Access
News Highlights
Looking forward to a productive winter session of Parliament: PM Narendra Modi            Finance Ministry discusses simplification of GST forms, making filing process more user- friendly            First Night trial of surface-to-surface medium-range missile Agni-II conducted successfully            Pak doesn't deny sending terrorists to India: EAM Jaishankar            India record best-ever 9 medal haul at World Para Athletics Championship           

National News

Mar 20, 2019
7:39AM

GST Council approves transition plan for new GST rates

Representational Pic
GST council today approved a transition plan for new goods and services tax rates on residential properties under which developers of under-construction buildings may either opt to shift to the revised lower rates without input tax credit or stick to the previous rates.

Revenue Secretary Ajay Bhushan Pandey told media that for housing projects launched on or after the first of April this year, the developers will have to adhere to the new GST rates recommended by the council last month. Developers can also opt for different GST options for separate buildings in a project depending on if construction started before or after 31st March this year. Mr Pandey added that there will be no revenue loss to the government due to the new GST structure for under-construction housing.

The next GST Council meeting will be held after the Lok Sabha elections. The Revenue Secretary informed that authorities will, however, seek permission of the Election Commission if the need arises for any meeting of the body.

Live Twitter Feed

Listen News

Morning News 17 (Nov) Midday News 16 (Nov) News at Nine 16 (Nov) Hourly 17 (Nov) (1005hrs)
समाचार प्रभात 17 (Nov) दोपहर समाचार 16 (Nov) समाचार संध्या 16 (Nov) प्रति घंटा समाचार 17 (Nov) (1100hrs)
Khabarnama (Mor) 17 (Nov) Khabrein(Day) 16 (Nov) Khabrein(Eve) 16 (Nov)
Aaj Savere 17 (Nov) Parikrama 16 (Nov)

Listen Programs

Market Mantra 16 (Nov) Samayki 16 (Nov) Sports Scan 16 (Nov) Spotlight/News Analysis 16 (Nov) Samachar Darshan 15 (Nov) Radio Newsreel 16 (Nov)
    Public Speak

    Country wide 7 (Nov) Surkhiyon Mein 7 (Nov) Charcha Ka Vishai Ha 13 (Nov) Vaad-Samvaad 29 (Oct) Money Talk 29 (Oct) Current Affairs 15 (Nov)