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GST Council finalises tax rates on 80-90% goods, services

The GST will be a national sales tax that will be levied on consumption of goods or use of services

Press Trust of India  |  Srinagar 

The Goods and Services Tax Council on Thursday finalised tax rates on 80-90 per cent of goods and services under the four-slab structure with essential items of daily use being kept in the lowest bracket of 5 per cent. The Council, headed by Union Finance Minister Arun Jaitley and comprising representatives of all states, in the opening session of the two-day meeting also approved rules for the GST regime which will come into effect on July 1. Official sources said that 80-90 per cent of the items has been categorised in 5, 12, 18 or 28 per ...

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First Published: Thu, May 18 2017. 15:57 IST
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