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GST Council meet begins: Watch out for tax rate on gold, other commodities

Will decide rates of items like footwear, textiles, agriculture equipment, handloom and handicrafts

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A salesperson attends to a customer (not pictured) inside a jewellery showroom, during Akshaya Tritiya, a major gold-buying festival, in Mumbai

ANI

Last Updated : Jun 03 2017 | 12:34 PM IST

A meeting of the 15th Goods and Services Tax (GST) Council commenced at the Vigyan Bhavan here on Saturday a short while ago.

Finance Minister Arun Jaitley is presiding over the meeting of all state finance ministers.

The meeting is expected to decide the rates of six items, including gold biscuits, footwear, textiles, agriculture equipment and handloom and handicrafts.

Earlier reports quoted an official release as saying that approval of amendments of the draft GST Rules and related forms are also on the agenda of today's meeting.

This is expected to be the last GST Council meeting before the rollout of the new tax regime on July 1.

Last month, the GST Council had put over 1,200 goods and 500 services in the four tax brackets of 5, 12, 18 and 28 per cent.

It had also imposed cess over and above the peak rate of 28 per cent on demerit and luxury goods.