The 27th GST Council meeting has been completed. Finance Minister Arun Jaitley said that those who make cashless transactions will get a discount of 2 per cent. Though this exemption will upto a maximum of Rs 100. Finance Minister Arun Jaitley said that cess on sugar products will be considered. For this, there is a consensus on the formation of a group of ministers.
The Modi government is constantly taking steps to promote cashless transactions. GST Council is a part of this initiative to give two percent discount on digital transaction. Prior to this 27th meeting of the GST Council, it was expected that sugar can be levied on 2 per cent cess. However, no decision has been taken on this.
The Council has decided to constitute a Group of Ministers to consider cess. This 27th meeting of GST Council was done through video conferencing.
During this, the Finance Minister informed that in the first year of GST, the collection was very good. He informed that all members of the GST Council have expressed happiness over the revenue collection done in the first year of GST.
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