GST Council lowers tax rate for 66 items: Here's the entire List
Monday, June 12, 2017 IST
GST Council lowers tax rate for 66 items: Here's the entire List
New Delhi: Tax rates for upwards of 66 things including kitchen staples like pickles and mustard sauce under the following GST administration have been sliced to meet requests from different quarters as the nation gets ready for the rollout of one- nation-one-tax in under three weeks.
Inside weeks of the almighty GST Council fitting more than 1,200 things into one of the 5, 12, 18 and 28 % impose chunks, there were grievances from different quarters about high expense frequency on different merchandise and enterprises.
Check out this link to know the complete list of items that have been revised in the 16th GST Council Meeting held on 11th June 2017.
In an alleviation to SMEs, the Council likewise expanded the limit of turnover for organizations which can decide on composition scheme to Rs 75 lakh, from Rs 50 lakh proposed before.
Presently dealers, producers and eatery proprietors with turnover beneath Rs 75 lakh can pick the creation plan and pay charges at 1, 2, and 5 percent rates individually.
The government plans to take off GST from July 1 and finance minister Arun Jaitley said the GST Council has finished discourse on the greater part of the issues.
The Council additionally affirmed the records and record rules for the GST administration and in the following meeting on June 18, it will take up assessments on lottery and e-path charge for a talk.
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