33rd GST Council meet gets adjourned till Sunday without quoting any major decision..!

New Delhi, February 20: The Goods and Services Tax (GST) Council meeting on Wednesday remained inconclusive and was adjourned by the finance minister Arun Jaitley till Sunday, 24th of February saying that the members wanted the meeting to be held in person.

 

 

Jaitley chairing the 33rd meeting of its kind said that the members were looking to have more discussions on the GST rate proposals for the real estate sector and added that a decision might be taken on the same in the next meeting.The meeting will now take place in Delhi on February 24.

"I have always followed the approach of moving as per consensus and some of the states wanted meeting where members are physically present, keeping the idea of consensus in mind, I adjourn the meeting to Sunday”, said Jaitley after the meeting, responding to as many as six states, including Delhi, Kerala and Punjab’s request to postpone the meet via video conference and call for a physical meeting.

The meeting was expected to address the issue of single rate of tax on lottery and consider the reports of ministerial panel pertaining to real estate.

One of the panels, headed by Gujarat Deputy Chief Minister Nitin Patel has recommended 5 per cent GST on under-construction properties and 3 per cent tax in case of affordable housing category. However, the panel headed by Maharashtra Finance Minister Sudhir Mungantiwar has uniformity of taxation on lottery under GST and has recommended 18 or 28 per cent tax rate. The final called will be taken by the Council on Sunday.