Here's a look at Rahul Gandhi's promises that could attract voters' attention in the run up to the 2019 Lok Sabha elections

A two-member NCLAT bench held that Central or State Tax Departments entitled for dues are 'operational creditors' under the Insolvency & Bankruptcy Code.

Under the transition scheme, builders have the option to apply for either the new GST rates -1% for affordable under-construction houses and 5% on other houses - or old rates on the ongoing projects where construction and actual bookings both started before April 1, 2019.

The meeting deliberated on the transition provision and related issues for the implementation of lower GST rates for the real estate sector.

The Council will finalise the rules regarding the already availed Input Tax Credit (ITC) by real estate developers for under-construction projects before the new tax rates come into force from the next financial year.

To a question on GST by a participant, Gandhi, calling it a \"disaster\", said the Congress, on coming to power, will work to give \"one GST\", which is simple and lowest tax possible.

In the previous meeting, the GST Council slashed tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent, effective April 1.

The GST Council meeting is likely to deliberate only the transition provision and related issues for the implementation of lower GST rates for the real estate sector, sources said, adding, no issues related to rate is in the agenda as the model code of conduct is in force.

\"In election years, sales always increase substantially, so we are hopeful about next year.\"

To evaluate cases of GST benefits, the NAA has decided to look into three yardsticks - proportionate grammage increase (volume) in products, timeline of the passing on the benefit, and additional benefits offered by a firm.