GST Council pushes deadline for sales returns deferring decision on real estate tax


gstDeferring a decision pertaining to tax rates on real estate and lottery, GST Council has pushed the deadline for businesses to file sales returns for January till Friday.

After concluding the GST Council meeting, Union Finance Minister Arun Jaitley said that keeping the rush of filling of returns in mind, the due date has been extended till February 22 for all states; and February 28 for Jammu & Kashmir.

The sales returns summary of GSTR-3B is mandated to be filled on or before February 20.

Talking about the Goods and Services Tax (GST) rate on under-construction housing properties, the minister said, since a list of States pitched for physical meeting for this agenda, hence, the Council will be meeting again on February 24 to take a decision.

“Today’s meeting has been adjourned till Sunday,” Jaitley said.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.