The GST Council will meet on June 11 for its 16th meeting.
Silver and processed diamonds too will be taxed at 3 percent, like gold, clarified Revenue Secretary Hasmukh Adhia.
We are quite confident of sticking to the target date of July 1Finance Minister Arun Jaitley
All biscuits will be taxed at a rate of 18 percent under GST, Jaitley said. Earlier, biscuits under Rs 100 per kilogram were exempt of tax.
Rough diamonds have been fitted with a nominal rate of 0.25 percent, Jaitley said.
Gold, a contentious item, and gold jewellery will be taxed at three percent, Jaitley said.
Jaitley said that natural yarn was to be taxed at 5 percent. Man-made textiles would carry a rate of 18 percent, while all fabrics will be charged 5 percent.
Readymade garments would be taxed at 12 percent, with apparel costing below Rs 1,000 being taxed at 5 percent, Jaitley said.
Beedi leaf to be taxed at 18 percent, and the beedis itself would be at 28 percent, said Jaitley.
He added there will be no additional cess on beedis.
Footwear priced under Rs 500 will be taxed at 5 percent, from an existing rate of 9.5 percent, Jaitley said.
Footwear priced over Rs 500 will be taxed at 18 percent under GST.
Packaged items sold under registered trademark would be taxed at 5 percent, said Finance Minister Arun Jaitley at the media briefing.
#GST | Revised return formats released. Experts say changes are significant.
— BloombergQuint (@BloombergQuint) June 3, 2017
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