GST council meet on chaired by FM Arun Jaitley

 Goods and Services Tax (GST), implemented “from July 1, has five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent. GST on all mass consumption items lowered to 18% from 28%. Today the GST Council took a historic decision, that in the 28% slab there will be only 50 items and the remaining items have been brought down to 18%.”

Paints, cement have been retained at 28%, he added. Luxury goods such as washing machine and air conditioners have been retained at 28%. But mass consumption items have been lowered to 18%, Modi said.  Bihar FM  named Items, chewing gum, chocolates, preparation for women cosmetics, shaving and after-shave items, deodorants, washing powder detergent and granite and marble. All these items have been put in the 18% category,” sushil Modi said.

GST Council is likely to take up the issue of benami properties.

Earlier, Assam Finance Minister Himanta Biswa Sarma said, the meeting is important as it would review the progress of the new tax regime three months after it was rolled out.

Exemption to small traders, issues related to MRP and the impact of the new tax regime on the small-scale industry are among the issues likely to be taken up at the meeting.

 2m2 minutes ago

गुवाहाटी: GST काउंसिल की बैठक में फैसला, केवल 50 वस्तुओं पर 28 फीसदी टैक्स लगेगा.

Translate from Hindi



1 minute ago | West Bengal FM Amit Mitra says ideally only sin goods & luxury goods should be under 28% slab

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s