FM to chair GST Council meet in Srinagar on Friday

As per estimates the GST is expected to shore up government revenue and spur economic growth by 1-2 percentage points. DH illustration

As per estimates the GST is expected to shore up government revenue and spur economic growth by 1-2 percentage points. DH illustration

Almost 81 per cent of products under the GST would be charged below the 18 per cent bracket, said Revenue Secretary Hasmukh Adhia.

The tax that 1.3 billion Indians will pay on buying salt to luxury cars and on services like phone calls to dining out will be decided at the GST Council meet starting tomorrow in Srinagar, where a tight security cover has been thrown in view of recent protests.

The GST council has recently fixed a tax rate of 18% on mobile and financial services, while exempting education and healthcare from GST levy.

The decision was taken at today's GST Council meeting, where tax slabs were discussed.

With the GST, India will join select league of nations with a goods and service tax.

Judge declares Prince's 6 siblings the heirs to his estate
Prince's family, of course, has raised issues about the delay of distribution, saying that prolonging it will diminish the estate. He had previously said he wouldn't declare the musician's siblings as his heirs until all appeals had been decided.

"A three-day session of the Tripura Assembly would begin from May 23 to pass the State Goods and Services Tax Bill", Deputy Speaker Pabitra Kar told IANS in Agartala.

FMCG firms Dabur and Emami welcomed the rates on commonly used consumer items stating it would be beneficial but said more clarity is needed to understand overall impact.

"The GST will bring about comprehensive reform of the indirect tax regime in the country and a major financial reform to make India a single market", Patnaik said while addressing the legislators in the workshop on GST held ahead of the Odisha Assembly's special session on Thursday.

These items at present attract 22-24 per cent tax incidence through a combination of central and state government levies. The chief minister also stated that the tax reform would result in benefits to business and industries and consumers as well.

The exemption list is supposed to include common use items like salt, primary produce, fruits and vegetables, flour, salt, milk, eggs, tea, coffee and prasad sold at temples.

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