NEW DELHI: GST council - the apex decision making body on Goods and Services Tax (GST) - on Thursday revised rates on 29 items and 53 categories of services, finance minister Arun Jaitley said after the council's 24th meeting held in Delhi.The meeting held special significance as key decisions were expected to come out ahead of the Union Budget , to be presented on February 1.The new rates will be applicable from January 25.However the council has not yet finalised on any decision regarding simplifying the process of GST filing. The matter though was discussed and Nandan Nilekani gave a detailed presentation on the matter, Jaitley said.In a bid to ease compliance burden, the Council veered around to the idea of registered entities continuing to file the return in GSTR 3B Form while moving to a system where supplier invoice captures details of the transaction.The new process would be finalised in the next meeting of the GST Council after a written formulation is circulated to the states, he said.The date of the next meeting of the Council has not yet been decided, he said.Jaitley also said that inter-state e-way bill will be necessary from February 1. 15 states have agreed to introduce e-way bill for intra-state trade as well. The GST council also reviewed the revenue collection and the finance minister said that the collection from composition scheme has not been 'encouraging' and that there seems to be cases of under declaration. Large amount of credit line in IGST (Integrated GST) was also discussed."GST Panel also decided to divide Rs 35,000 crore IGST collections between centre, states", Jaitley said.The council did not reach any conclusion on bringing petroleum products and real estate under the ambit of GST, however Jaitley said that next meeting of GST Council may consider a decision petroleum and other exempt items.Replying to a query on direct tax collections, the finance minister said that the government is well ahead of the target.Briefing reporters after the meeting, Jaitley said the next meeting of the Council may consider bringing items like crude oil, natural gas, petrol, diesel, ATF and real estate within the GST purview.Read this story in GujaratiRead this story in Marathi