32nd GST council meet begins, these issues are being discussed
New Delhi: The 32nd meeting of the GST Council, chaired by Finance Minister Arun Jaitley has started this morning at 10:30 am. The discussions would focus on lowering GST on under-construction flats and houses to 5 per cent and hiking exemption threshold for small and medium enterprises.
32nd GST Council Meet
Currently GST rate with respect to under-construction flats and houses and ready to move-in flats, where completion certificate is not issued at the time of sale, are taxable at 12 per cent. Also in the current scenario, businesses with a turnover of up to Rs 20 lakh are exempted from GST.