GST Council clears State, UT-GST laws

March 16, 2017 19:12

The Goods and Services Tax Council has approved State GST and Union Territory GST law.

Addressing the media in New Delhi, Union Finance Minister Arun Jaitley said:

"Cess on demerit goods capped at 15 per cent. Supporting GST laws will now be taken to the Cabinet and then to Parliament for approval.

"GST Council will meet on March 31 for framing of rules for Goods and Service Tax regime.

"Tax rates for various goods and services to be taken up after framing of rules; hopefully GST will be implemented from July 1.

"For the purpose of empowerment, cap of cess on demerit goods on top of peak rate of GST has been kept at 15 per cent."

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