GST GoM

Group of ministers to seek legal opinion for the move

Next meeting likely in New Delhi by month end; final report by August 10

New rates for some items, removal of exemptions with effect from July 18

Okays removing the exemption on mass consumption items

Likely to take up GoM report on feasibility of system for intra-state movement of precious metals

GoM may look at the option of levying 1 per cent agriculture cess on luxury goods which could imposed to deal with any unforeseen circumstances in the farm sector

Businesses with a turnover of up to Rs 1 crore can opt for the composition scheme and they can pay taxes in the range of 1-5 per cent and file returns quarterly