GST Council Meet highlights: what gets cheaper, what get expensive || ENGLISH || GOA365

Nirmala Sitharaman, the finance minister, revealed on Saturday that the GST Council had granted its permission to reimburse the remaining balance of Rs 16982Cr in compensation to the states.

 Even though the said amount isn’t available in the compensation funds, the dues are to be made via personal resources which will be replenished in time.GST on jaggery was reduced from 18% to nil/5%, with pencil sharpeners from 18% to 12% and for data loggers from 18% to nil.

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§  Reduced GST onRab liquid jaggery, pencil sharpeners, and data loggers.

§  Coal rejects, examination entrance fees, millet to be cheaper.

§  Proposal for GST reduction on cement yet to come.

§  The Council has recommended rationalization of penalties for late filing of annual GST returns.

§  For late filling of annual taxes, rationalizing fines is recommended.

§  Court service, gutka, pan masala, chewing tobacco to get expensive.