GST bills: FM Jaitley announces approval of new tax rules : Watch video
Union Finance Minister Arun Jaitley announced the the remaining rules of the Goods and Services Tax regime approved by GST Council. The GST Council has already approved five sets of rules relating to registration, payments, refund, invoice and returns. He said that the four new set of rules will be implemented under the GST, which includes input tax credit, valuation, transitional provisions and composition rules.The fourteenth GST Council meet to discuss the rate structuring will be held on May 18 and 19 in Srinagar. He added that the final corrected draft approved will be put in public domain so that the industry can come up with changes, after which they will make amendments as required and incorporate the bill.