GST Council prunes list of goods to be taxed at 28% to 50

GUWAHATI, NOV 10:
Just about 50 items of the nearly 200 goods will continue to attract Goods and Services Tax rate of 28 per cent.

The decision was taken at a crucial meeting of the Goods and Services Tax Council which is under way where Centre and States are in discussions to reduce the number of items in the 28 per cent slab.

Bihar Finance Minister Sushil Modi said on Friday that goods including chocolates., shaving creams, shampoos women’s beauty products, granite and marble slabs will now be taxed at 18 per cent.

“Mass consumption items will be taxed at a lower rate, ” he said, adding that it will have an impact of Rs. 20,000 crore annually.

West Bengal Finance Minister said that the State has demanded only sin goods and luxury items should be taxed at 28 per cent.

source:http://www.thehindubusinessline.com/economy/policy/gst-council-prunes-list-of-goods-to-be-taxed-at-28-to-just-50/article9952407.ece

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