Srinagar, May 18: The Goods and Services Tax (GST) Council on Thursday decided the tax rates for 1,211 items with a majority of items being kept at 18 per cent, though the rates on gold and beedi remained undecided.
“There is no increase in taxes of the items considered today. In fact, for many of them, taxes have come down,” Finance Minister Arun Jaitley told media after the first day of the GST Council meet.
Revenue Secretary Hasmukh Adhia said that an overwhelming 81 per cent of items will attract tax of 18 per cent or below. Only 19 per cent of items will be taxed at the highest rate of 28 per cent, he said.