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In the upcoming 26th, GST council meeting which is to be held soon may not see any inclusion of real estate within the GST scheme as many of the states is not ready to give up the stamp duty revenue which is garnered in a huge number.

According to ICRA rating agency, the fertilizer manufacturers are likely to be benefited with the reduction in tax rates under the GST as the tax rates on phosphorus acid reduced from 18 percent to 12 percent.

The 25th GST council meeting which was chaired by the finance minister Arun Jaitley and state finance ministers offered a great relief to the educational institutes.

As the Union Budget is in the line and about to present after two weeks, the GST Council is considering to come down the tax rates for some products, as per the report the number is 80, and thinking over to include the real estate under GST in 25th GST council meeting.

In the upcoming GST council meeting which is to be held on 18th January 2018, it is speculated that there would be rate revision of around 70 to 80 products and services.

GST council meeting which is going to hold on 18 January will make a clear distinction between the products should be treated under handmade items or not.

The Telecom Regulatory Authority of India (TRAI) has recommended the FM, Arun Jaitley to lower applicable 18% GST on telecom services to 12%.

Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.

According to the report, In 23rd GST Council Meeting, the Council had decided to lower tax rates nearly on 200 items could bring down inflation by 20 basis points from the current level, based on lower food and beverage prices.