Finance Minister Arun Jaitley will chair the 26th meeting of the Goods and Services Tax (GST) Council in New Delhi on Saturday. A key agenda for the meeting, as discussed earlier, will be related to simplification of tax returns.
Apart from this, the council will discuss the implementation of the new e-way bill for inter and intra-state movement of goods. The GST Council in its 25th meeting had made several important recommendations for the housing sector which are expected to promote affordable housing for the masses in the country. These recommendations which came into effect from January 25, include a proposal to extend the concessional rate of GST of 12 percent (effective rate of eight percent after deducting one third of the amount charged for the house, flat towards the cost of land or undivided share of land) in housing sector to construction of houses constructed, acquired under the Credit Linked Subsidy Scheme (CLSS) for Economically Weaker Sections (EWS), Lower Income Group (LIG), Middle Income Group-1 (MlG-1), Middle Income Group-2 (MlG-2) under the Pradhan Mantri Awas Yojana (Urban).