{"id":317,"date":"2019-02-27T07:41:40","date_gmt":"2019-02-27T07:41:40","guid":{"rendered":"https:\/\/gstrobo.com\/kc\/news\/?p=317"},"modified":"2019-08-23T10:39:20","modified_gmt":"2019-08-23T10:39:20","slug":"33rd-council-meeting-recommendations","status":"publish","type":"post","link":"https:\/\/www.gstrobo.com\/kc\/news\/33rd-council-meeting-recommendations\/","title":{"rendered":"33rd Council meeting recommendations"},"content":{"rendered":"<p>GST Rates for Real Estate sector to be effective from 1st April, 2019<\/p>\n<ul>\n<li>Effective GST Rate of 5% without ITC on residential properties outside affordable segment<\/li>\n<li>Effective GST of 1% without ITC on affordable housing<\/li>\n<\/ul>\n<p>Definition of affordable housing:<\/p>\n<ul>\n<li>A residential house\/flat of carpet area of up to 90 sqm in non metropolitan cities\/towns and 60 sqm in metropolitan cities having value up to Rs. 45 lacs (both for metropolitan and non metropolitan cities)<\/li>\n<li>Metropolitan Cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurugram, Faridabad), Hyderabad, Kolkata and Mumbai (whole of MMR)<\/li>\n<\/ul>\n<p>GST exemption on Transfer Development rights\/Joint development rights, long term lease (premium), and floor space Index.<\/p>\n<ul>\n<li>Intermediate tax on development right, such as TDR, JDA, lease (premium), FSI shall be exempted only for such residential property on which GST is payable<\/li>\n<\/ul>\n<p>Details of the scheme shall be worked out by an officers committee and shall be approved by the GST Council in a meeting to be called specifically for this purpose.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST Rates for Real Estate sector to be effective from 1st April, 2019 Effective GST Rate of 5% without ITC on residential properties outside affordable segment Effective GST of 1% without ITC on affordable housing Definition of affordable housing: A residential house\/flat of carpet area of up to 90 sqm in non metropolitan cities\/towns and &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[139,54],"class_list":["post-317","post","type-post","status-publish","format-standard","hentry","category-news-updates","tag-33rd-gst-council-meeting","tag-gst-rates"],"_links":{"self":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/comments?post=317"}],"version-history":[{"count":2,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/317\/revisions"}],"predecessor-version":[{"id":320,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/317\/revisions\/320"}],"wp:attachment":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/media?parent=317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/categories?post=317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/tags?post=317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}