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GST Council meeting: Rates of handicraft items reduced

By Vikas

Union Finance Minister Arun Jaitley on Thursday said that the GST Council has approved rate changes of 29 goods and 53 categories of services. Jaitley said this during a media briefing after the 25th meeting of the GST Council.

Union Finance Minister Arun Jaitley

When asked if the issue of petrol/diesel price being brought under the ambit of GST was discussed, Jaitley said, "Today it was not discussed but its possible it will be discussed in the next meeting."

He said that the revised GST rates would be applicable from January 25. The Finance Minister said that discussion on simplification of return was also held during the meeting.

"Discussed the simplification of return filing process in the meeting, Nandan Nilekani gave a detailed presentation on simplifying return filing process," he said.

[Key GST meeting underway: 5 things to expect]

"Large amount of credit line in IGST was also discussed. GST Panel also decided to divide Rs 35,000 crore IGST collections between centre, states," he added.

Uttarakhand Finance Minister Prakash Pant, who was part of the GST council meeting, said that 29 hadicraft items have been put in 0% slab.

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