Tuesday, September 26 2017

June 11, 2017

Tax levels reduced on 66 goods by GST council

New Delhi : Goods and Services Tax council reduced tax levels on 66 goods as against representations received for 133 item said FM Arun Jaitley. He was addressing the press after 16the meeting of GST council in New Delhi. Mr Jaitley he said composition amount under GST raised to 75 lakh rupees for traders, manufacturers, restaurants against earlier 50 lakh.Goods and Services Tax rate on insulin has been reduced from 12 to 5 per cent. Tax reduced from 18 per cent to 12 per cent on several food items and 28 per cent GST for cinema ticket above 100 rupees and 18 per cent GST for cinema ticket below 100 rupees.