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GST rate for most items capped at 18%

DNMUM388984 | 5/19/2017 | Author : Ishfaq Ul Hassan | WC :589

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Srinagar: Goods and Services Tax (GST) Council has fixed tax rates for 1,211 items, of which 81% will attract 18% tax.
The GST Council fixed the tax rates ranging from 5% to 28% — with 12% and 18% being the standard rates.
It will discuss tax rates for six categories including gold, beedi and packaged foods along with services today.
“There are 1,211 items in the code. For the full day, we took up each item and discussed. Except six categories on which discussions are still continuing, we have approved the others. We will continue discussions tomorrow,” Union finance minister Arun Jaitley told reporters on the first day of the GST Council meeting.
Revenue secretary Hasmukh Adhia said the 81% items will attract a tax of
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