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Thursday, September 22, 2016

Goods and Services Tax Council to hold its first meeting today Thursday Sep 22,2016

The first meeting of the newly-constituted Goods and Services Tax Council, with finance minister Arun Jaitley as chairman, is scheduled for two days from Thursday Sep 22,2016 amid high expectations that the country will see a new indirect tax scheme in place from April 1, 2017, as targeted.

Among the items on the meeting’s agenda is the election of a vice-chairman of the council -- likely to be one of the members of the Empowered Committee of State Finance Ministers, officials said.

Other items on the agenda include deliberations on the actual GST base rate, the various slabs, the items that need to be subsumed into and exempted from the new regime, and draft central, state and integrated GST laws.

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