what is GST council in 150-200 words?
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Nearly 150 proposals for reduction of tax rates on items ranging from clay idols and dhoop battis, dosa and idli batters, macaroni pasta to granite raw blocks and scientific instruments have been examined by the Fitment Committee of officials under the Goods and Services Tax Council since the first month of the roll out of the levy.
Significantly, it is understood to have ruled out any reduction in the rate on hybrid cars where the industry had wanted the compensation to be lowered by three per cent.
For many food items, such as sharbats with synthetic flavouring, treatment of dried methi patta as spices or dried vegetables, sweets and milk products served in restaurants and considering chikki and kheer as sweets for a lower tax rate, the Committee has suggested clarifications to remove any doubts.
The GST Council in its meeting on Saturday revised the rates of items such as job works in textiles to five per cent, some tractor parts to 18 per cent and rent-a-cab service and goods transport agency services to 12 per cent with full input tax credit. (See chart)
Many of the remaining proposals will be taken up by the Council in its next meeting on September 9 in Hyderabad, Finance Minister Arun Jaitley has said.
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Nearly 150 proposals for reduction of tax rates on items ranging from clay idols and dhoop battis, dosa and idli batters, macaroni pasta to granite raw blocks and scientific instruments have been examined by the Fitment Committee of officials under the Goods and Services Tax Council since the first month of the roll out of the levy.
Significantly, it is understood to have ruled out any reduction in the rate on hybrid cars where the industry had wanted the compensation to be lowered by three per cent.
For many food items, such as sharbats with synthetic flavouring, treatment of dried methi patta as spices or dried vegetables, sweets and milk products served in restaurants and considering chikki and kheer as sweets for a lower tax rate, the Committee has suggested clarifications to remove any doubts.
The GST Council in its meeting on Saturday revised the rates of items such as job works in textiles to five per cent, some tractor parts to 18 per cent and rent-a-cab service and goods transport agency services to 12 per cent with full input tax credit. (See chart)
Many of the remaining proposals will be taken up by the Council in its next meeting on September 9 in Hyderabad, Finance Minister Arun Jaitley has said.
I hope this Will help you
plz...mark as brainliest answer
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