The meeting will be the Council’s 14th and final one before the roll-out of the largest tax reform since Independence. The Jammu and Kashmir government is hosting the Council meeting, treating all the visiting ministers as state guests, conferring them the required security. J&K finance minister Haseeb Drabu told Mint in an interview published on 17 May that the Council meeting in the state signifies its role in national policymaking. At the state level, more than 12 states have already cleared their respective state GST laws. While fitting all commodities and services into different tax rates, the Council’s idea is to place them at a rate that is closest to their effective tax rate at present.

Source: Mint May 17, 2017 13:12 UTC