At the last meeting, the council — comprising state and Union finance ministers — had agreed to reduce the levy on under-construction residential projects to 5% without input tax credit (ITC) from the current 12%, with credit for taxes paid on inputs such as paints, steel, cement and sanitary ware. For affordable housing projects, the rate will be slashed to 1%.

from Times of India https://timesofindia.indiatimes.com/business/india-business/gst-cut-government-expects-realtors-to-pare-prices/articleshow/68367139.cms