1. GST: New tax regime will be rolled out on the intervening night of June 30 and July 1, says Arun Jaitley

GST: New tax regime will be rolled out on the intervening night of June 30 and July 1, says Arun Jaitley

The Finance Minister said ''Official launch of the GST will be on the midnight of June 30 at an event in the national capital''.

By: | New Delhi | Published: June 18, 2017 6:39 PM
Goods and Services Tax, GST, GST Council, IT infrastructure, Financial Express, GSTN, Tax, Tax payers, GST, E-way bill, Lotteries, anti-profiteering measures, advance ruling, appeals GST: The Finance Minister added that the new tax regime would be implemented from July 1. (Source: ANI)

GST: While addressing the media after attending the 17th meeting of the Goods and Services Tax (GST) Council Finance Minister Arun Jaitley said that there is no reason to defer the GST. The Finance Minister added that the new tax regime would be implemented from July 1. Jaitley said, ”The council decided categorically that the GST would be rolled out from July 1”. Jaitley said that the new tax regime would be launched on the intervening night of June 30 and July 1 at a function in New Delhi, the Finance Minister said ”Official launch of the GST will be on the midnight of June 30 at an event in the national capital,” as reported by ANI.

In the 17th edition of the GST council meet the panel discussed anti-profiteering, e-way bill rules, sets tax rate for lottery tickets, tax rates for hotels and for restaurants in hotels. ANI quoted Jaitley as saying that state-run lotteries will be taxed at 12 percent and lotteries authorised by the state government would be taxed at 28 percent.

The GST Council has also fixed a tax rate of 18 percent for hotels which charged between Rs 2,500 and Rs 7,500 per night and 28 percent for hotels which charge Rs 7,500 and above. The GST tax rate for restaurants in these hotels is kept at 18 percent. The tax rate for these restaurants is kept on par with air-conditioned restaurants.

On June 11, the council chaired by Jaitley had fixed the tax rates of 66 items under review out of a total of 133 items, according to an Indian Express report.

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