GST rates fixed: 3% tax on gold, 5% on clothes costing less than Rs 1,000

Bidi to be taxed at 28% without cess; all states on board for rollout of the tax regime from July 1

The Goods and Services Tax (GST) Council on Saturday cleared the pending rules for the rollout of the new indirect tax regime from July 1. The include transition provisions and returns. All states have agreed to the July 1 rollout timeline. "Transition rules have been cleared and everybody has agreed for July 1 roll out," Kerala Finance Minister Thomas Isaac told said.

Finance Minister Arun Jaitley chaired the 15th meeting of the GST Council, where the rates of tax and cess on gold, biscuits, footwear and textiles were decided.

Finance Minister Arun Jaitley explained the math of GST rate. Here are