Two-day meeting of GST Council begins today in Delhi

This will be the seventh meeting of the Council and Union Finance Minister Arun Jaitley will chair the meeting.

Published: 22nd December 2016 09:45 AM  |   Last Updated: 22nd December 2016 09:45 AM   |  A+A-

Arun Jaitley_Reuters

Finance Minister Arun Jaitley. | (File | Reuters)


NEW DELHI: The Goods and Services Tax (GST) Council will begin its two-day meeting in New Delhi today to consider the model laws and iron out differences on the issue of jurisdiction over assessees in the new indirect tax regime. 

This will be the seventh meeting of the Council and Union Finance Minister Arun Jaitley will chair the meeting. 

GST Council in its last meeting had cleared 20 chapters of the model GST law and today they will discuss the remaining seven chapters. 

Earlier, the council have taken several important decision. 

The decision includes the threshold limit of 20 lakh rupees exemption from levy of GST for normal states and 10 lakhs for the Special Category States.

Besides, to compensate states for five years for loss of revenue due to the implementation of GST, the base year for the revenue of the State would be 2015-16 and a fixed growth rate of 14 percent will be applied to it. 

The government has time till  September 16 next year to implement the GST Act as per the Constitution Amendment Bill passed by both the Houses with a two-thirds majority and by half of the states. 


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp