GST council meet on Feb 24 to decide on real estate, lottery rates.

The GST Council, which met on Wednesday through videoconferencing, decided to defer the decision on rates related to the real estate industry and lotteries to February 24, when the Council members will meet in person. The members wanted the decision to be taken after a physical meeting.

The virtual meeting on Wednesday, however, decided to extend the deadline for summary sales return-GSTR-3B- for January by two days to February 22.

"Considering the speed at which returns are getting filed, thousands of returns being filed every hour, the suggestion before the GST Council was to extend the deadline by two days for all states; and since some areas are facing disturbance, for Jammu and Kashmir, it be extended till February 28," Finance Minister Arun Jaitley said.

While the 33rd GST Council meeting decided to defer the decision on real estate to Sunday, the lottery issue was not...