GST Council approves transition plan for new rate structure for housing units

The all-powerful GST Council Tuesday approved a transition plan for the implementation of new tax structure for housing units, Revenue Secretary A B Pandey said. The Council had in its last meeting on February 24, slashed tax rates for under-construction flats in affordable category to 1 per cent. GST rate on other categories was reduced to 5 per cent, effective April 1.