By TIOL News Service

NEW DELHI, JUNE 04, 2017: THE GST Council which met yesterday at Vigyan Bhawan, not only finalised the pending Rules relating to Returns and Transitional provisions but also the rates for Cereals, Atta, Maida and Ravva (Branded), Biscuits, Footwear, Textiles, Biris, Precious metals, Gold, Silver jewellery, Agricultural implements.

During the course of discussion on fitment of tax slabs, Mr Yanamala Ramakrishnudu, the Finance Minister of AP intervened and requested the Chairman, Mr Arun Jaitley that the GST rates finalized for certain goods and services such as Biogas, Fertilizers, Tractors, Hardware, Granite slabs, Construction equipment, Restaurents, Regional Cinemas, Real estate builders, Agarbathis, Human Hair, Cashew etc are in excess of the present combined rates of VAT and Central Excise. Mr Jaitley readily accepted the request to reexamine the rates of tax on these goods and services and referred the matter to committee of officers for thorough examination before the matter is brought before the Council again for finalization in a meeting to be convened specially for this purpose on June 11, 2017.