GST Council to consider implementation of lower GST for realty sector
Monday, March 18, 2019, 6:10 PM
The all powerful GST Council in its 34th meeting to be held Tuesday is expected to take up various issues including the implementation of lower GST rates for the real estate sector. In the previous meeting (February 24), the high-powered GST Council slashed tax rates for under-construction flats to 5 percent and affordable homes to 1 percent, effective April 1.
GST exemption limit for MSMEs doubled
Thursday, January 10, 2019, 5:45 PM
In a major relief to micro, small and medium enterprises (MSMEs), the GST Council chaired by finance minister Arun Jaitley on Thursday doubled the GST exemption limit for companies in the sector to those with an annual turnover of Rs.40 lakh from the current Rs.20 lakh. For North East and hilly states, the limit has been increased to Rs.20 lakh from Rs.10 lakh.