 "*TV, refrigerator, washing machine, vacuum cleaner, AC; **3% cess for small diesel cars, 1% for small petrol cars and 15% for luxury cars")
The Goods and Services Tax (GST) Council, at its meeting in Srinagar on Thursday, approved rates for about 1,200 items, boosting the chances of a July 1 roll-out and also sending a signal to the industry to be ready for the indirect tax regime.
In a bid to ensure that the GST was non-inflationary, the Council, chaired by Union Finance Minister Arun Jaitley and comprising representatives of other states, kept more than 81 per cent of the items in the tax bracket of 18 per cent or lower.
“We have approved rates for 1,211 items… Six categories are yet to
