GST Council Meeting Ends with Next Meeting on 3 June

· Service Tax at 18% RNR

· Exemption at 5% and 12% Rates Announced

· Healthcare and Education Exempted

Live from Srinagar

By Arun Goyal

· E-commerce players to deduct tax at source before paying suppliers. E-retailers such as Flipkart and Snapdeal to pay GST

· Tax experts: Flights to get cheaper while hailing cabs through cab aggregators will cost marginally less.

· 5% tax to be levied on cab aggregators like Ola and Uber, says Arun Jaitley.

· Telecom, financial services to attract GST of 18%; 28% tax for race club, betting and cinema halls

· AC restaurants and those with liquor licence to charge 18% GST, while 5-star hotels will levy 28%; hotels with tariff of Rs 1,000-2,500 to pay 12% rate, clarified finance minister, Arun Jaitley at the end of the meeting in Srinagar.

· Restaurants with turnover of Rs 50 lakh or below to face 5% tax under GST and non-AC restaurant at 12%.

· Transport services will attract 5% GST.

· General rate on GST at 18 percent.