July reality for GST! Centre, states broadly agree on key provisions

The GST Council today fixed a 5 per cent tax rate on small hotels and restaurants and approved draft of key supporting legislations to enable rollout of the new indirect tax regime from July 1. The all-powerful Council approved the final draft of Central GST (C-GST) and Integrated GST (I-GST) and will take up for approval the State-GST and Union Territory-GST (UT-GST) laws at its next meeting on M…