Election Commission gives approval to GST Council meeting on March 19

The Election Commission has allowed the GST Council to hold a meeting through videoconferencing on March 19.Notices were sent by the GST Council Secretariat to the states for the 34th meeting of the Council on March 19 after the Commission’s approval. The meeting will be held to discuss only transition provisions and related issues for the implementation of lower GST rates for the real estate sector.

In the previous meeting, the high-powered GST Council slashed tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent, effective April 1.GST collections in February dropped to Rs 97,247 crore from Rs 1.02 lakh crore in the previous month. GST collection target for the current fiscal has been lowered to Rs 11.47 lakh crore in the Revised Estimates, from Rs 13.71 lakh crore budgeted initially.

Source: https://www.business-standard.com/article/economy-policy/election-commission-gives-approval-to-gst-council-meeting-on-march-19-119031301112_1.html