GST Council meet in progress at Srinagar, disclosure of GST rates soon

New Delhi, May 18 (KNN) The GST that is all set to be rolled out from July 1, a meeting of the GST council is in progress in Srinagar. The 2 day meeting which has started today is the fourteenth meeting of the council, many key decisions such as deciding rates will be discussed in the meet.

Also this could be the final meeting before the country actually goes for the implementation of the new tax regime.

Earlier on Wednesday a technical committee held a meeting with key officials present. The discussions were around the lines of evolving a broad consensus on the placement of the items under various tax slabs as to avoid ‘surprises’. The tax slabs have been decided for over 80 per cent of the items in the technical committee meeting.

The remaining 2o per cent items such as motor vehicles, beedi, coconut oil etc., will be looked upon in the GST council meeting that Is to follow over next two days.

As of now there are over 17 items that are placed in the negative list of services. The list will be exempted from the service tax, this includes religions pilgrimage, education, healthcare, journalistic activities, education and skill development.

At the ongoing meeting in Srinagar, the main agenda apart from discussions on the tax slabs, States, Union Territories and officials from the Centre will discuss GST rules for accounts, advance ruling, appeals and revision. Also talks on e-way bill, assessment and audit is likely to take place. (KNN/ DA)