GST on around 200 goods reduced from 28 to 18pct: Assam FM

Along the sidelines of the 23rd Goods and Services Tax (GST) Council meeting chaired by Finance Minister Arun Jaitley here, Assam Finance Minister Himanta Biswa Sarma claimed that the tax levied on around 200 commodities has been brought down from 28 to 18 percent.

"The GST meeting will be path breaking, as many crucial decisions in favor of traders, manufactures and consumers will be taken. Some important decisions have already been taken like bringing almost 200 goods from the 28 percent tax slab down to the 18 percent slab," Sarma told reporters here.

Echoing a similar stance, Bihar Deputy Chief Minister Sushil Kumar Modi said "Almost 227 items were there in the 28 percent GST slab. Now only 50 remain, which are mostly luxury items, while the rest have been put in the 18 percent tax bracket," he said.

The council meeting, which is still underway, will reportedly table the issue of reducing tax levied on A/C restaurants from 18 to 12 percent. It is also likely to deliver its decision on the proposal for big businesses to file GST returns quarterly instead of monthly, and raising the sales ceiling for small businesses from Rs1 crore to Rs1.5 crore, thus enabling them to capitalise on the composition scheme.