New Delhi, Jan 18: In an important Goods and Services Tax (GST) Council meet ahead of the Union Budget on Thursday, the apex body revised rates on 49 items, put 29 products (Mainly Handicrafts) under 0 percent tax bracket and 53 categories of services.
After the meeting Finance minister Arun Jaitley informed media that they discussed the simplification of return filing process in the meeting. Nandan Nilekani gave a detailed presentation on simplifying return filing process, Jaitley added.
Speaking to media after the 25th GST Council meeting, Uttarakhand Finance Minister Prakash Pant said “Some of our recommendations and suggestions were considered but some of them were rejected. Around 29 handicraft items have been put in 0 percent slab.The tax has been reduced on around 49 items.”
“The decision on petroleum products is pending as of now while the presentation on real estate is yet to be made and showcased”, he further asserted.