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On June 18, GST Council to discuss revision of rates on more items

Arun Jaitley will chair the 17th meeting of the GST at Vigyan Bhavan

IANS  |  New Delhi 

Finance Minister Arun Jaitley at a press conference
Finance Minister Arun Jaitley at a press conference

The Goods and Services Council will hold its next meeting, chaired by Minister Arun Jaitley, here on June 18 to discuss revision of rates on some more items and approval of draft rules.

Jaitley will chair the 17th meeting of the at Vigyan Bhavan, the Ministry said on Thursday.

"The main agenda items of the meeting include confirmation of the minutes of the 16th Council meeting held on June 11, approval of draft Rules and related Forms for Advance Ruling, Appeals and Revision, Assessment and Audit, E-Way Bill and Anti-Profiteering along with fitment/adjustment of rates on certain items among others," a statement said.

The meeting will also be attended among others by the ministers of different states and union territories.

The Council earlier revised the rates of 66 items of the 133 for which representations had been received seeking change from the fitments originally made in the four-slab indirect structure.

On Entertainment Tax, the Council decided on a two-slab structure for cinema tickets, whereby those costing less than Rs 100 would be taxed less at 18 per cent while those above will attract 28 per cent

In order to encourage job work outsourcing in sectors like diamond, leather, textiles, jewellery and printing, where workers take the work home, the rate has been reduced to 5 per cent.

The on cashew has been cut from 12 to 5 per cent. Packaged foods like food and vegetable products such as pickles, chutnies, ketchup and instant food mixes, which historically were taxed at 18 per cent, would be taxed at 12 per cent.

on cutlery will come down from 18 to 12 per cent while that on computer printers will be lowered from 28 to 18 per cent. Insulin and agarbatti will go down from 12 to 5 per cent.

on school bags has been lowered from 28 to 18 per cent and on exercise books from 18 to 12 per cent.

Besides, under the composition scheme for traders, manufacturers and restaurants, the threshold limit was increased up to Rs 75 lakh against Rs 50 lakh earlier.

First Published: Thu, June 15 2017. 16:14 IST
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