The GST Council in a meeting decided to reduce tax rate on 177 items ranging from chewing gums to detergents to 18 per cent from current 28 per cent.

The 23rd meeting of the GST Council Chaired by Union Finance minister Arun Jaitley will be deliberating on the impact on the small scale industry, exemption to small traders and issues related to maximum retail price (MRP).

Filing of return for 3B will be continued till March. All taxpayers will continue to file 3B till March 2018 said Hasmukh Adhia, finance & revenue secretary.

Restaurants in starred-hotels will charge 18% tax with input tax credit, those in lower category hotels to charge 5% GST without ITC, says FM.

All restaurants in the country will be levied GST of 5%; no ITC (input tax credit) benefits to them, says the finance minister.

Thirteen items moved from 18% to 12%, 6 items from 18% to 5%, 8 items from 12% to 5%, 6 items from 5% to nil: FM Jaitley.

Other features of press briefing includes :
Only 50 items to face 28% GST rate, 178 items out of 28% tax slab
Outdoor catering rate fixed at 18%
Taxpayers to only fill GSTR1 until April 30, 2018
Taxpayers to continue to file 3B till March 2018
Late filing fees cut to Rs 50 from Rs 200/day
Composition threshold hiked to Rs 1.5 crore

Earlier Congress vice-president Rahul Gandhi says, “We will not allow BJP to impose a Gabbar Singh Tax on India. They cannot break the back of the small and medium businesses, crush the informal sector and destroy millions of jobs".