logo
 
The Goods and Services Tax (GST) Council on Thursday decided the tax rates for 1,211 items with a majority of items being kept at 18%, though the rates on gold and beedi remained undecided.
"There is no increase in taxes of the items considered today. In fact, for many of them, taxes have come down," finance minister Arun Jaitley told the media after the first day of the GST Council meet.
The minister said out of 1,211 items, GST rates on all barring six have been decided.

Principal item for discussion tomorrow will be the various category of services: FM Arun Jaitley

Revenue Secretary Hasmukh Adhia



said an overwhelming 81% of items will attract tax of 18% or below. Only 19% of items will be taxed at the highest rate of 28%, he said.
The GST Council, Jaitley said, will discuss on Friday the rates on services and may meet one more time if tax rates for all items are not decided by then.
Here's a list of items so far:
Milk will be exempted from GST
Cereals will be exempt from tax as opposed to current 5% rate
Foodgrains to be cheaper
Hair oil, soap, toothpaste to attract 18% GST
Rate on coal fixed at 5% as against the current 11.69%
Sugar, tea, coffee, edible oil to attract 5% tax

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Name:
Email:
Comment:
Enter the code shown:


Can't read the image? click here to refresh

Todays Epaper

English Weekly

neerus indian ethnic wear
Latest Urdu News

Do you think there should be a retirement age in politics?

Yes
No
Can't Say