Union Finance Minister Arun Jaitley has agreed to re-examine the rates of tax on certain goods and services as requested by AP Finance Minister Yanamala Ramakrishnudu at the GST Council meeting held in New Delhi on Saturday.
Mr. Ramakrishnudu told Mr. Jaitley that the GST rates finalised for biogas, fertilizers, tractors, hardware, granite slabs, construction equipment, restaurants, regional cinemas, real estate builders, agarbathis, human hair, and cashew were in excess of the present combined rates of VAT and Central Excise, hence he should take a relook at the rates.
Conceding his request, Mr. Jaitley referred the matter to a committee for a thorough examination before the matter is brought before the council again for finalisation on June 11.
The GST Council meeting held at Vigyan Bhavan has finalized the rules related to returns and transitional provisions and rates chargeable on cereals, atta, maida and ravva (branded), biscuits, footwear, textiles, precious metals, gold, silver jewellery and agricultural implements.
