Monday, 22 May 2017

Arun Jaitley approves rates for goods and GST compensation cess

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The 14th Goods and Services Tax (GST) Council Meeting, on Friday, approved the GST rates for goods at nil rate, 5 per cent, 12 per cent, 18 per cent and 28 per cent to be levied on certain goods. The Council, chaired by the Union Minister of Finance Arun Jaitley, discussed fitment of rates of goods during the meeting.

“The Council has also broadly approved the rates of GST Compensation Cess to be levied on certain goods,” according to a statement released by the ministry of finance. The all-powerful GST Council exempted Healthcare and education sector.

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