<h1>GST Council Revises Rates: 5% GST on Residential Properties, 1% on Affordable Housing Effective April 2019.</h1> The 33rd GST Council meeting addressed the real estate sector's slowdown by recommending new GST rates to boost residential sales. Effective April 1, 2019, a 5% GST rate without Input Tax Credit (ITC) applies to residential properties outside the affordable segment, while a 1% rate applies to affordable housing. Affordable housing is defined as properties up to 90 sqm in non-metropolitan areas and 60 sqm in metropolitan cities, valued up to Rs. 45 lakhs. Exemptions on development rights and long-term leases aim to improve cash flow. These changes aim to offer fair pricing, protect consumer interests, and simplify tax compliance for builders.