The GST Council will meet on Sunday to review some of the rates on which industry has expressed displeasure, besides amending the draft rules.
This will be the 16th meeting of the Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, since it was set up in September 2016.
The agenda for the meeting would be:
- Confirmation of minutes of 15th GST Council meeting.
- To approve the amendment in the draft rules & rates based on representations received from industry
The earlier meeting was held on 3rd June 2017. You can get a complete picture of that meeting here.
The industry has made several represenatations such as the auto industry has been demanding a review of the GST rate on mid and large-sized hybrid cars which are proposed to be taxed at 43 per cent, higher than the current level of effective tax rate of 30.3 per cent.
Also, the telecom sector has been placed in the 18 per cent tax bracket and they are demanding that the rate should be lowered. COAI has written to Revenue Secretary to review the matter.
IT hardware firms are seeking an uniform GST rate of 18 per cent on IT products, like monitors and printers, instead of 28 per cent proposed for some items.
The 16th GST Council meeting is pegged to be last GST council meeting after that GST council would focus on campaigns and effective implementation from July 1.
Source: CBEC, Mint, Business standard
GST EXPLAINED EXCLUSIVE: What to expect in 16th GST Council meeting to be held on 11th June 2017
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