NEW DELHI: The GST Council on Saturday reduce rates on 88 pieces, together with footwear, fridge, washing machine and small screen TV, whilst the commonly demanded sanitary napkins have been exempted from the levy.
The best tax bracket of 28 in line with cent has been rationalised further with rates on daily-use pieces like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners, lithium ion batteries, being diminished to 18 in line with cent. The revised tax rates will come into effect from July 27.
"Every state wanted that the rates on these items be lowered so that the middle income households are benefited ... It has also been decided that the GST Council will rise above revenue consideration and focus more on job creation and economic growth," finance minister Piyush Goyal stated.
Here are the pieces set to get inexpensive:
Items exempted from GST
GST slashed from 28% to 18%
GST slashed from 18% to 12%
GST slashed to five%
The best tax bracket of 28 in line with cent has been rationalised further with rates on daily-use pieces like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners, lithium ion batteries, being diminished to 18 in line with cent. The revised tax rates will come into effect from July 27.
"Every state wanted that the rates on these items be lowered so that the middle income households are benefited ... It has also been decided that the GST Council will rise above revenue consideration and focus more on job creation and economic growth," finance minister Piyush Goyal stated.
This is a big step towards rationalising the 28% tax slab which has been narrowed to just a few commodities previously 13 months.
— Arun Jaitley (@arunjaitley) 1532187661000Here are the pieces set to get inexpensive:
Items exempted from GST
- Sanitary pads
- Rakhis, without precious subject matter like gold, silver and many others
- Marbles, stone or wooden deities
- Raw subject matter utilized in brooms
- Fortified milk
- Saal leaves
- Coir pith compost
- Circulation and commemorative cash
GST slashed from 28% to 18%
- Washing system
- Refrigerators, Freezers
- TVs as much as 68cm
- Video games
- Vacuum cleaners
- Trailers and semi-trailers
- Mixer grinders
- Shavers & Hair dryers
- Water cooler
- Storage water warmers
- Lithium ion batteries
- Electric iron
- Paint
GST slashed from 18% to 12%
- Handbags together with pouches and purses; jewelry box
- Wooden frames for painting, photographs, mirrors and many others
- Art ware of cork (together with articles of sholapith)
- Stone art ware, stone inlay paintings
- Ornamental framed mirrors
- Glass statues (rather than the ones of crystal)
- Glass art ware (together with pots, jars, votive, cask, cake duvet, tulip bottle, vase)
- Art ware of iron
- Art ware of brass, copper/ copper alloys, electro plated with nickel/silver
- Aluminium art ware
- Handcrafted lamps (together with panchloga lamp)
- Worked vegetable or mineral carving, articles thereof, articles of wax, of stearin, of natural gums or natural resins or of modelling pastes and many others, (together with articles of lac, shellac)
- Ganjifa card
- Bamboo flooring
- Zip and Slide Fasteners
- Hand Operated Rubber Roller
- Brass Kerosene Pressure Stove
GST slashed to five%
- Ethanol
- Footwear costing as much as Rs 1000
- Solid bio gasoline pellets
- Chenille fabrics and different fabrics below heading 5801
- Handloom dari
- Phosphoric acid (fertilizer grade simplest)
- Knitted cap/topi having retail sale worth not exceeding Rs 1000
- Handmade carpets and different handmade textile flooring coverings (together with namda/gabba)
- Handmade lace
- Hand-woven tapestries
- Hand-made braids and ornamental trimming in the piece
- Toran
From TV to fridge, GST slashed on 88 items: Here's what is cheaper
![From TV to fridge, GST slashed on 88 items: Here's what is cheaper]()
Reviewed by Kailash
on
July 22, 2018
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