The GST council meeting headed by Union Finance Minister Arun Jaitley got underway today.
GST meeting will be path breaking, many crucial decisions in favor of traders, manufactures and consumers will be taken said Himanta Biswa Sarma, Assam's finance minister.
Here is a quick look at the highlights:
- Luxury goods like washing machines and air conditioners have been retained at 28%.
- Paints and cement have been retained in the 28 per cent tax bracket.
- Slab of almost 200 goods have been reduced from 28% to 18%
- 18% GST to be levied on chewing gum, chocolate, aftershave, deodorant, detergent, marble.
- GST Council decides to keep only 50 items, mostly demerit, sin and luxury goods in top 28% bracket.