KOLKATA:
The state goods and services tax bill is likely to be passed
during the forthcoming assembly session starting from May 19.
This session of the assembly is the last one before GST is rolled out across the country in July. Some of the states have already passed the GST bill. And though the ruling Trinamool Congress supports GST in principle, it had objections regarding some issues.
The GST council will meet in Srinagar
on May 18 and 19 to finalise tax rates for different items. It is
learnt the Centre and states have arrived at a consensus on the rates
for at least 6,000 items.
Tax on some items like soap, cosmetics, coconut oil and cars would be
finalised in a meeting between state and central officials. There will
be four-slab rates in four categories.
The lowest slab would be 0% (exempted item) while the peak slab would
be 28%. Some new rules are also likely to be notified during the GST
council meeting headed by Union finance minister Arun Jaitley.
17 May 2017, 07:47 AM