New Delhi: With less than a month left for the Goods and Services Tax (GST) rollout, the GST council approved six sets of rules in its 17th meeting today, including those on e-way bills, GST returns and tax rates on lotteries and hotels.
Finance Minister Arun Jaitley also announced that GST will officially kick in on the midnight of June 30 in an official ceremony. The GST Council, chaired by him also decided to give a two-month relaxation for filing of GST returns.
He also said that further deliberation is required to come to a consensus regarding e-way bills. Till such time, an alternative or transient rule will be in implementation.
GST rate of 28 per cent was decided for hotel rooms priced above Rs 7,500. The Council further said that the GST on restaurants in such hotels would be equivalent to other air-conditioned restaurants.
Jaitley said "State-run lotteries will be taxed at 12 per cent and private lotteries will be taxed at 28 per cent”. According to a report in the Economic Times, GST council also approved the anti-profiteering rule.
Despite requests by many sectors, the Council refused to revise GST rates any further.
The Council has decided to meet again on the eve of GST rollout – June 30.
