The GST Council on Sunday slashed tax rates on under-construction housing properties to 5 per cent without input tax credit, from the existing 12 per cent.GST rates on affordable housing was also brought down to 1 per cent from the current 8 per cent and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities.
The new tax rates will come into effect from April 1, 2019.
GST Council deferred its decision about lottery.Currently; state run lotteries attract 12 per cent GST, while state-authorised ones attract 28 per cent.
