The Goods and Services Tax (GST) Council is holding a meeting in New Delhi to decide on tax rate, including the levy of cess and sort out the vexed issue of jurisdiction over assessees. The two-day meet is being chaired by Finance Minister Arun Jaitley. During the meeting, the Centre is likely to press for its proposal for 4-tier tax structure of 8, 12, 18 and 26 per cent, the peak rate being for Fast-moving consumer goods (FMCG) and consumer durables.Yesterday, Minister of State for Finance Arjun Ram Meghwal had said, there had been minor differences over the issue of cess but expressed confidence that it will be resolved. He said, the government's effort is to decide on all matters through consensus. The Minister also expressed confidence that the GST will be rolled out from 1st April next year.
News On AIR | November 3, 2016 1:20 PM
GST Council to discuss tax rates, dual control today