Related Keywords: comprising of representatives of twenty nine states, GST Council, headed by Finance Minister Arun Jaitley, highest bracket, intermediate goods are taxed, job works for making garments, likely to consider lowering of tax rates, removing anomaly in taxation, tax on final output, to five percent from eighteen percent
The GST Council headed by Finance Minister Arun Jaitley and comprising of representatives of all the 29 states, this week is likely to consider lowering of tax rates for job works for making garments to 5 percent from 18 percent and will be also considering removing anomaly in taxation in cases where the intermediate goods are taxed at the highest bracket than the tax on final output, the source said.
It will be the first full fledged meeting of the GST Council, chaired by Jaitley and comprising state counterparts, after the roll out of the new indirect tax reform on July 1.
