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'GST on 50 items of mass consumption slashed to 18%'

IANS  |  Guwahati 

The rate on 50 items of mass consumption, that were in the 28 per cent slab, has been slashed to 18 per cent, Deputy Chief Minister Sushil Kumar Modi, who heads the panel of Group of Ministers for tackling IT-related glitches, said on Friday.

"All items of common consumption have been reduced from 28 per cent to 18 per cent rate.

"on goods of mass consumption like chewing gum, chocolates, shaving items, shampoo and skin creams, whose revenue implication is not much, has been reduced," Modi told reporters on the sidelines of the Goods and Services (GST) Council meet here.

He further added that the revenue implication of these will be approximately Rs 20,000 crore.

Modi said it was important that the system under regime stabilises as only four months were remaining for the close of the current financial year.

The 23rd Council meeting got underway on Friday at a city hotel under the chairmanship of Union Finance Minister Arun Jaitley.

The Finance Ministers of at least 24 states of the country participated in the meeting. Some of the states were represented by their Chief Ministers as they hold the Finance portfolio as well.

It is expected that the Guwahati meeting will take a decision about reduction of on 150-odd items currently in the 28 per cent slab.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 15:44 IST
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