GST Council decides rates of 1,211 items, exempts milk and cereals

GST Council decides rates of 1,211 items, exempts milk and cereals

India Blooms News Service | 18 May 2017

Srinagar, May 18 (IBNS): The Goods and Services Tax (GST) Council on Thursday decided the rate of 1, 211 items and exempted milk and cereals from tax structures, according to media reports.

On the first day of the GST Council meeting chaired by the finance minister Arun Jaitley, the tax of the majority items has been kept at 18%  while several rates including those of gold and beedi are yet to be decided.

Speaking about the tax rates, Jaitley said: "There is no increase in taxes of the items considered today. In fact, for many of them, taxes have come down."

The GST Council which has earlier announced the tax slabs as 5%, 12%, 18% and 28%, is expected to decide the rates of services on Friday.

Image: Official Twitter account of Arun Jaitley.
 

GST Council decides rates of 1,211 items, exempts milk and cereals

India Blooms News Service
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