Council meeting to pave way for GST Bill in Parliament, Assemblies

For now the four tax slabs will remain the same at 5%, 12%, 18% and 28%

The GST Council meeting on Thursday is crucial for the Bills on the new indirect tax regime coming up in the ongoing Budget session of Parliament. If state assemblies also pass their respective GST Bills in time, the new indirect taxation regime could be introduced from July with April deadline almost missed. 

The meeting will take up the state GST (SGST) Bill and union territory GST (UTGST) Bill, having approved all the other Bills in the previous meetings. 

The draft SGST and UTGST Bills will be more or less replica of the draft Central GST (CGST) Bills that was passed