GST: Marathon ends, sprint begins for July 1 roll-out

Tax rates sealed for almost all items; gold to attract 3%, biscuits 18%

The Goods and Services Tax (GST) Council on Saturday fixed the rates for almost all the remaining items, such as precious metals (gold and silver), diamonds, biscuits, textiles, and footwear. 

Now, the new indirect tax regime is most likely to be rolled out on July 1, despite reservations voiced by West Bengal. All other states have agreed to the timeline.

The rates of all the other goods were fixed in the previous meeting of the Council, chaired by Union Finance Minister Arun Jaitley, in Srinagar in May.

The Council also cleared confusion over the rates previously fixed, besides raising refund on input taxes