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<h1>GST implementation: Council approved interest rates, portal, TCS, committees and fitment of goods/services rates, plus rules amendments and exemptions.</h1> The Council fixed statutory simple interest rates for delayed tax payments and refunds (18%, 24%, and 6-9%), approved TCS by e commerce operators (0.5% CGST/SGST, 1% IGST proviso), notified www.gst.gov.in as the Common GST Electronic Portal, constituted a three tier project management framework with Standing Committees and Sectoral Groups, nominated the Additional Secretary as ex officio GSTN Director, approved targeted amendments to Registration/Payment/Refund/Invoice/ITC/Valuation/Composition Rules, and authorised fitment of goods and services into Nil/5/12/18/28% slabs with specified modifications, Compensation Cess measures and IGST exemptions.
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