NEW DELHI, Jun 3:

 

Finance Minister Arun Jaitley today said the GST Council has fixed the tax on commodities like gold, footwear and textile, with all the states agreeing to July 1 roll out of the GST. Briefing media in New Delhi after the 15th GST Council meeting this evening, Mr Jaitley said, GST Council will set up committee to look into complaints regarding anti-profiteering clause. 

He said, Gold will be taxed at 3 per cent and biscuits at 18 per cent under GST. Diamonds will also attract 3 percent GST, while rough diamonds will have a tax levy of 0.25 per cent. 

The Minister said, the Council has decided to tax footwear below 500 rupees at 5 per cent and rest at 18 per cent. Silk and Jute are at nil category, whereas cotton and natural fiber will be taxed at 5 percent and man made at 18 percent. 

Solar panels will be taxed at 5 per cent, Bidis will be taxed at 28 percent and will not attract any cess while tendu leaves will be taxed at 18 percent. Packaged food items will be taxed at 5 percent. 

Mr Jaitley said, the next meeting of the GST council will be held on 11th of this month to discuss other pending items. The GST Council had last month fitted over 1,200 goodsand 500 services in the tax brackets of 5, 12, 18 and 28 per
cent.

 

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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