GST Council meeting ends 1 day earlier than its schedule due to lack of consensus in the rate structure. It was decided to fix the rates in its next two meetings to be held on 3rd, 4th and 9th November, 2016.
In the current meeting held on 18th & 19th October, 4 slab rate structure has been proposed and consensus obtained on the formula for the compensation to the states.
Now we have to wait for another fortnight to get the rate structure decided by the Council.
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