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Insulin, cashews, pickles to get cheaper: GST Council reduces rates of 66 products

Telecom rates unchanged; meeting on June 18 to discuss residual issues

test_demonitisation With two weeks to go for the goods and services tax (GST) roll-out, the GST Council on Sunday reduced the rates for 66 items and expanded the scope of the composition scheme for the benefit of small traders, manufacturers, and restaurateurs. The composition scheme is a presumptive taxation scheme allowing small traders, manufacturers and restaurants to pay a 1-5 per cent GST rate on sales without tax credits.

Insulin, pickles, printers, agarbattis, school bags, and cashew nuts are among the 66. Those were among 133 items whose rates were reviewed ...

First Published: Mon, June 12 2017. 11:35 IST
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