Srinagar: Making further progress on rolling out the Goods and Services Tax (GST) by July 1, the GST Council on Thursday decided the tax rates for 1,211 items, a majority kept at 18 per cent, though the rates on gold and beedi remained undecided.
The Council did not take any decision on services tax rates.
The two-day meeting will take up the exemption of essential services on Friday.
Finance Minister Arun Jaitley said food items, including cereals, will become cheaper as they have been kept under the exempt category to which milk is also proposed to be added.
Items like hair oil, toothpaste and soaps, which are now taxed at 28 per cent, will be taxed at 18 per cent under GST.
Sugar, tea, coffee (except instant), edible oil and coal will attract 5 per cent tax. Coal is currently taxed at 11.69 per cent, the minister said.
Air-conditioners and refrigerators will come under the 28 per cent tax slab, while life saving drugs have been kept at 5 per cent rate. (IANS)
