The Goods and Services Tax (GST) Council has reduced rates on 40 products, most of them daily use items, rendering them cheaper for the consumer, while the cess on mid and high-segment cars went up by 2-7 percent, which is likely to raise the prices of these cars. The decision to this effect was taken at its 21st meeting Hyderabad on Saturday, which was also the second review meeting after the GST rollout.
Briefing the media, Union Finance Minister Arun Jaitley said with the changed nature of economy, the government could afford to have the rates of some these items reduced. The reduction in rate is likely to make these items cheaper.
Here are the details:
Idli and dosa batter will attract 12 percent GST, against 18 percent before, while brooms and brushes have been totally exempted from the levy.
The Goods and Services Tax (GST) Council also decided to reduce levy on computer monitors of up to 20 inches, cotton quilts, rubber bands and kitchen gas lighters.
As per the list of items uploaded on the website of the Central Board of Excise and Customs (CBEC), khadi fabric sold through KVIC shops have been exempted from GST.
Also, rate on saree fall, dhoop batti, corduroy fabric, walnut, dried tamarind and roasted gram has been brought down to 5 percent, from 12 percent earlier.
Accordingly, plastic raincoats and rubber bands have been fitted in the slab of 18 percent and 12 percent, respectively, as against the earlier 28 percent.
Kitchen gas lighters will attract 18 percent compared to 28 percent GST earlier while prayer beads will fall in the 5 percent slab against 18 percent previously.
As against 28 percent, computer monitors with size of up to 20 inches will attract 18 percent-- thus bringing it on par with those whose screen size is up to 17 inches.
Cotton quilts costing up to Rs 1,000 will attract 5 percent while those above that will face 12 percent GST, against the earlier uniform rate of 18 percent.
Tableware, kitchenware, other household items and toilet articles of porcelain or china or those other than porcelain or china clay will be levied 12 per cent against 18 percent and 28 percent, respectively.
All goods, including bells, gongs and the like, non-electric, of base metal; statuettes and other ornaments of base metal will attract 12 per cent GST compared to 18 per cent earlier.
Here's the full list:
(With inputs from agencies)
Published Date: Sep 11, 2017 12:47 PM | Updated Date: Sep 11, 2017 13:15 PM