GST to roll out on July 1, insists Arun Jaitley as Council finalises lottery tax rates


Union Finance Minister Arun Jaitley today trashed the speculations about unpreparedness of the Goods and Services Tax Network (GSTN) for rolling out the new tax regime from July 1.

Addressing mediapersons after a longish meeting of the Goods and Services Tax Council in New, Arun Jaitely said that the GST roll out will not be deferred from its deadline.

Arun Jaitley said, “The GST Council has categorically decided to implement GST on July 1.”

His comments assume significance as industry body Assocham and even Civil Aviation Ministry had requested the Finance Ministry to defer GST roll out. Both were of the view that the machinery to roll out GST from July 1 was not in place.

WHAT ELSE JAITLEY SAID ON GST

  1. The Goods and Services Tax Council today finalised the tax rates for lottery and hospitality industry.

  2. The GST Council also cleared anti-profiterring and e-way rules in a meeting chaired by Finance Minister Arun Jaitley.

  3. The GST Council has set tax rate on state-run lottery at 12 per cent while the govt-authorised private lottery will attract GST of 28 per cent.

  4. Finance Minister Arun Jaitley said that the GST Council has spent “several hours” in finalising the tax rates on lottery.

  5. Arun Jaitley also said that the GST Council has provided relief to the hospitality industry as 28 per cent rate would apply above cap of Rs 7,500. Between Rs 2,500 and Rs 7,500, 18 per cent GST will be levied on the hospitality industry.

  6. Arun Jaitley further said that GST on restaurants in hotels will be at par with other air-conditioned restaurants and attract 18 per cent tax.

  7. Jaitley said that no decision could be made today regarding the IGST on shipping vessels at 5 per cent. He called it “still a pending issue.”

  8. The GST Council has decided to have further deliberations on E-way Bill as the body has two opinions on the matter.

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Civil aviation ministry wants Finance Minister Arun Jaitley to defer GST roll-out

ALSO WATCH | GST rates finalised: Hits and misses for common man

 



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