Minutes of the 15th GST Council Meeting

The 15th GST Council meeting headed by Finance Minister Arun Jaitley was held on 3rd June, 2017 at New Delhi.

The major highlights of the meeting are:

  1. The GST Council has cleared all the pending rules related to transition provisions and returns.
  2. All the states have agreed to rollout GST from July 1, 2017
  3. Gold, Gems, Jewellery to be taxed at 3 percent
  4. GST on apparel below Rs 1,000 fixed at 5 percent
  5. GST on all biscuits to be 18%
  6. Readymade garments to attract 12% GST; Yarn and fabric cotton 5 per cent
  7. Footwear priced below Rs 500 to be taxed at 5%, the rest at 18%
  8. Bidi to be taxed at 28% without cess. However, Beedis are still under discussion, no proposal of cess for beedis
  9. A nominal rate of 0.25 percent imposed on rough diamond
  10. GST Council will set up committee to look into complaints regarding anti-profiteering clause

The next meeting of GST Council will be held on June 11, 2017.


Source: www.thenewsminute.com