The 14th Goods and Services Tax (GST) Council meeting chaired by the Union Finance Minister Shri Arun Jaitley approves GST rates for goods and GST Compensation Cess
The 14th Goods and Services Tax (GST) Council Meeting, chaired by the Union Minister of Finance Shri Arun Jaitley, was held at Srinagar, Jammu and Kashmir yesterday. The fitment of rates of goods were discussed during the Council meeting. The Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. The Council has also broadly approved the rates of GST Compensation Cess to be levied on certain goods.The information has been uploaded after the GST Council’s decision on the website of Central Board of Excise and Customs (CBEC) and is available at http://www.cbec.gov.in/. It will be subject to further vetting during which the lists may undergo some changes.