The GST Council in its 25th meeting today approved rate changes of 29 goods and 53 categories of services, Finance Minister Arun Jaitley said.
The revised rates will be applicable from January 25.
The GST Council in its 25th meeting today approved rate changes of 29 goods and 53 categories of services, Finance Minister Arun Jaitley said.
The revised rates will be applicable from January 25.
Next meeting of GST Council to approve a simpler GST Provision of carrying e-way bill, when moving goods between states, will be implemented from Feb 1, he added.
On whether petroleum and other exempt items be brought within purview of GST, Jaitley said it was not discussed today but is possible to be discussed in the next meet.
"Large amount of credit line in IGST was also discussed. GST Panel also decided to divide Rs 35,000 crore IGST collections between centre, states, " Jaitley said.
The Union Finance Minister also said that the Goods and Services Tax (GST) Council majorly discussed the simplification of the return filing process.
"Simplification of the return filing process was a major topic of discussion at the meeting," Jaitley said while speaking at a press conference following the GST Council meeting in Delhi.
The minister said that simplification of the return filing process was a major topic of discussion, as the Council felt that the Ministers' group, the IT committee and Nandan Nilekani should discuss simplification process and formalise the alternative system following a video conference meeting soon.
"The discussion was culminating in a direction that, initially there will be a 3B return and there will be a supplier's invoice which could be adequate. This will be a very simple process," the finance minister added.
Jaitley also said that simplification of the return filing process will be discussed in the 26th meeting, which will be held over video-conferencing.
(Inputs from agencies)