New Delhi [India], June 11 : Union Finance Minister Arun Jaitley on Sunday announced that the 17th meeting of the Goods and Services Tax (GST) Council will be held on June 18 at the Vigyan Bhawan.
While addressing the 16th meeting of the GST Council, Jaitley announced maintaining of 28 percent tax on all cinema tickets above Rs.
100, while of those below Rs. 100 to be reduced to 18 percent. While fixing the GST on cashew nuts, the minister said that the rates have been reduced from 12 percent to five percent.
The Council, which has till now fixed rates of more than 1200 goods and 500 services, is likely to discuss the GST rate for the telecom sector, which has been fixed at 18 percent.
The telecom industry has demanded a lower rate, arguing that an 18 percent GST rate, higher than the current 15 percent service tax for sector, will adversely affect the industry.
Earlier, the Cellular Operators Association of India (COAI) wrote to the Finance Ministry to emphasise the prevailing 'poor financial health' of the industry on the back of heavy debt burden and price wars.