Important changes in the GST Council meeting, relief to the diamond and jewellery industry
New Delhi. The 56th meeting of the GST Council has made major changes to the tax structure. Most goods are now taxed between 5 and 18 percent, while several essential items have been placed in the zero-tax category. These new provisions came into effect on September 22nd. However, the GST on gold and silver will remain at three percent, as before.