After the 11th GST Council meeting, Finance Minister, Arun Jaitley said the council approved the two legislations — the Central GST and Integrated GST bills. Earlier in Udaipur, the Council had passed the crucial Compensation Bill which compensates the states for the losses arising out of the GST for the first five years.
The Council decided to levy a 5 per cent GST on small hotels, restaurants and dhabas with an annual turnover of up to Rs 50 lakh.
GST likely to meet July 1 deadline says Finance Minister
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