Updates from May 03, 2017
Starting May 4th, the GST Council’s fitment committee will be involved in a three-day discussion to align all goods and services with the tax slabs prescribed earlier under GST. The committee, which comprises both central and state authorities, will aim to finalise the tax rate alignment by this weekend.
The rates thus decided will need to be approved in the GST council’s next meeting on 18th May in Srinagar. The goal of the fitment committee is to keep goods and services in tax brackets that closely match their effective tax rates at present.
As reported in LiveMint
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