- Tag results for GST_council_meet
As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both AC and non-AC.
Friday's meeting is likely to witness the largest shake-up in GST rates since its rollout on July 1.
Om Prakash Dhurve remarked this at a discussion on noteban and GST on Wednesday, ahead of the crucial meeting of the GST Council scheduled to be held on Friday.
Hectic parleys are underway to announce major concessions for small traders who could swing the fortunes of the ruling party in the Gujarat assembly elections.
The GST Council yesterday raised the composition scheme threshold for businesses to Rs 1 crore, which will allow them to pay a tax of one per cent to five per cent.
The opposition party asserted that the Central Government always rejected Congress' appeal to revise the tax reforms.
Union finance minister Arun Jaitley after chairing the 22nd GST council meet of Friday announced a slew of reforms including change in GST rates of several items.
The minister addressing a press conference after the 22nd GST council meet announced a slew of reforms.
Finance Minister Arun Jaitley is currently chairing the 22nd meeting of the council for the Goods and Services Tax.
Shah cuts short Kerala visit, flies to Delhi for urgent meet with Modi and Jaitley ahead of Gujarat, Himachal polls.
Lowering GST rates for SUVs, framing rules for anti-profiteering authority, fixing errors in taxation system on agenda.
Congress leaders said the distorted duty structure of GST will hit millions of small power looms.
Finance Minister T M Thomas Isaac said the collection of presumptive tax by some hoteliers in the name of GST was illegal and action would be initiated against them.
GST Council approves e-way bill, cuts textile job levy; Finance Minister appeals to pass on tax benefits
The Council also gave in-principle approval to anti-profiteering measures and setting up of a Screening Committee to check if tax reductions have been passed on to consumers.
"Dual control is a complex issue. We have decided to meet on January 16 to untie the knots in this issue," the Finance Minister said.