Previous Council Meeting (17th) –June 18, 2017 (Delhi)
Today’s Council Meeting (18th ) –June 30, 2017 (Delhi)
Next Council Meeting (19th) –August 5, 2017
GST IMPLEMENTED FROM JULY 01, 2017
Agenda of meeting: the meeting was originally called just to thank the council members for helping in the implementation of GST. There was no formal agenda for the council.
The GST launched at midnight of June 30, 2017 by Prime Minister Narendra Modi, in the presence of President Pranab Mukherjee from the Parliament’s Central Hall.
The major highlights of the meeting are:
- The tax rate on fertilizers have been reduced to 5% from previously decided 12%
- Tax rate on Exclusive parts of tractors has been cut to 18% from 28%
“In GST Council meeting, some additional sets of rules were approved. Other than this, many states had raised concern that the 12% GST rate proposed on fertilizers might increase the tax burden on farmers. Keeping in mind the tax rates on fertilizers prevailing in different states, the Council decided to lower it to 5%,” said the finance minister, who chairs the GST Council.
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