Gold to become costlier

Delhi June 4: A sad news for Indian Women. Gold may get costlier under the GST regime.

The GST Council in its 15 meeting has finalized tax rates for left out items which were not finalized last month.

The tax rates for following items are as follows

* Gold 3 %.
* Jewellery 3%.
* Rough Diamonds 0.25%
* Packaged Food items 5 %.
* Biscuits 18 %.
* Agri Machinery 5, 12 % based on category and usage.
* Footwear less than RS 500 -5%.
* Footwear above RS 500 - 18 %.
* Jute is exempted from GST
* Cotton Fibre /Yarn - 5%.
* Synthetic Fibre/Yarn -18%.
* Fabric - 5%.
* Ready made garments below RS 1000 - 5%.
* Ready made garments above RS 1000 - 12 %.
* Bidis -28 % and there would be no cess.
* Bidi leaves -18%.

The next council will be held on July 11.The council will decide account and record rules, and e-way bill rules and also tax rate on cigarettes.