FM Arun Jaitley shares proposed tax rates of various products including gold, packaged food items under GST

Finance Minister Arun Jaitley on Saturday addressed media on Goods and Services Tax. Jaitley shared tax rates of several products including gold, biscuits, footwear, packaged food items, bidis, solar panels etc.

"GST Council will set up committee to look into complaints regarding anti-profiteering clause," said FM Arun Jaitley.

"Gold to be taxed at 3 per cent and biscuits at 18 per cent under GST. GST Council decides to tax footwear below Rs 500 at 5 per cent; rest at 18 per cent. Packaged food items to taxed at 5 per cent under GST. Bidis will be taxed at 28 pc under GST and will not attract any cess; tendu leaves at 18 per cent. Solar panels will be taxed at 5 per cent under GST," said Jaitley.

Jaitley said that the next meeting of GST council is on June 11.

Also read: GST council clears pending rules including transition provisions and returns; states agree to July 1 roll out

Also read: GST will help India evolve as more tax-compliant society: Arun Jaitley