GST Council defers decision on real estate tax; extends deadline for sales returns till Feb 22

The GST Council has deferred a decision on tax rates on real estate and lottery till Sunday and extended the deadline for businesses to file sales returns for January till Friday.

Briefing reporters after a meeting of the GST Council on Wednesday, Finance Minister Arun Jaitley said, because of the rush of filing of returns, the due date has been extended till February 22 for all states; and February 28 for Jammu & Kashmir.

The due date for filing summary sales return - GSTR-3B - is February 20.

With regard to goods and Services Tax (GST) rate on under-construction housing properties, Jaitley said, since certain states wanted physical meeting for this agenda, hence, the Council would meet again on February 24 to take a decision.

Today's meeting has been adjourned till Sunday, Jaitley said, adding discussion on real estate and lottery will continue.