GST Council revised tax rates of 66 items
NEW DELHI: The Goods and Services Tax (GST) Councilon Sunday revised the rates of 66 items from what was originally stated in the four-slab indiret tax structure.
After the 16th GST Council meet concluded today, the rates of 66 items under the upcoming GST regime have been revised.
Addressing the media at a press meet after the meeting, Finance Minister Arun Jaitley said that the rates have been revised after getting feedback from industry players.
ArunJaitleysaid:"Afterconsidering the recommendations, the GST Council has reduced the tax level in 66 out of 133 items on which representations were made by the industries."
The reductions, he said, were based on two major principles -- maintaining equivalence and the change in the utilisation behavior.
Addressing the media at a press meet after the meeting, Finance Minister Arun Jaitley said that the rates have been revised after getting feedback from industry players.
ArunJaitleysaid:"Afterconsidering the recommendations, the GST Council has reduced the tax level in 66 out of 133 items on which representations were made by the industries."
The reductions, he said, were based on two major principles -- maintaining equivalence and the change in the utilisation behavior.
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