GST council reduces tax rates of 66 items

June 11, 2017 16:01

Union Finance Minister Arun Jaitley addresses media on goods and services tax rates:

- Traders, manufacturers and restaurants with turnover of up to Rs 75 lakh can avail the composition scheme, against Rs 50 lakh earlier.

- GST Council reduces tax rates of 66 items as against representations received for 133 items.

- GST Council lowers tax rate on computer printers to 18 per cent from 28 per cent.

- GST on insulin, agarbatti lowered to 5 per cent; school bags to attract tax of 28 per cent.

- GST on movie tickets below Rs 100 cut to 18 per cent; 28 per cent tax on tickets above Rs 100.

- Next meeting of GST Council on June 18; to take up lottery taxes, e-way bill. -- PTI

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