GST Council Meet Highlights: Rates on 29 Goods & 53 Services Changed

Today was GST's 25th Council meet, the highlights of the meeting were as follows:

• The decision to change rates of 29 goods and 53 services were accepted.
• These rates will come into force from 25th of January.
• 3B returns to continue as of now. Sellers/suppliers should keep uploading their invoices.
• E-way bill system testing will continue until January 25 and will be loaded from 1st of February. Those who do not follow will be penalized.
• A few services have been moved from 18% to 12% GST rate.
• GST has been exempted on 29 handicrafts, and rates on some others have been reduced.
• Rates on some agri products reduced.
• Integrated GST of Rs 35,000 crore will be provisionally divided between the Centre and states.
• The decision on real estate and petroleum to be taken in the next council meet. The next meeting will be held via video-conferencing.