Housing GST rule must be changed, says West Bengal FM Amit Mitra

Ahead of the GST Council meeting on Tuesday, West Bengal Finance Minister Amit Mitra has proposed that the new goods and services tax (GST) rate for ongoing residential housing projects be made optional. 

The GST Council meeting slated for Tuesday will take up the issue of finalising the rules and procedures to implement the decisions of the last Council on real estate. 

In his latest letter to Union Finance Minister, Arun Jaitley, Mitra has said that while the basic decision of bringing the effective rates of affordable housing and non-housing to 1 per cent and 5 per cent without input tax credit