GST panel keeps tax rate 17-18%, CEA subramanian gives modi government chance to mollify congress.

The chief economic advisor arvind subramanian led panel submitted the report on GST regime to finance minister arun jaitley offering recommendations.
The panel kept the standard GST rate at 17-18% at which most products would be likely taxed.

However as of now real estate, electricity, alcohol and petroleum products are kept out of the GST regime.
It also suggested the government to scrap the proposal to levy 1% tax on inter state sales on transfer of goods.