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GST rate cut: Here's what's cheaper

GST rate cut: Here's what's cheaper

Monday, July 23, 2018 IST

National

HIGHLIGHTS

*The highest tax bracket of 28 per cent has been rationalised further

*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: Piyush Goyal

NEW DELHI: The GST Council on Saturday cut rates on 88 items, including footwear, refrigerator, washing machine and small screen TV, while the widely demanded sanitary napkins have been exempted from the levy.

The highest tax bracket of 28 per cent has been rationalised further with rates on daily-use items like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners, lithium ion batteries, being lowered to 18 per 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 said.

Here are the items set to get cheaper:

Items exempted from GST

Sanitary pads

Rakhis, without precious material like gold, silver etc

Marbles, stone or wood deities

Raw material used in brooms

Fortified milk

Saal leaves

Coir pith compost

Circulation and commemorative coins

GST slashed from 28% to 18%

Washing machine

Refrigerators, Freezers

TVs up to 68cm

Video games

Vacuum cleaners

Trailers and semi-trailers

Mixer grinders

Shavers & Hair dryers

Water cooler

Storage water heaters

Lithium ion batteries

Electric iron

Paint

GST slashed from 18% to 12%

Handbags including pouches and purses; jewellery box

Wooden frames for painting, photographs, mirrors etc

Art ware of cork (including articles of sholapith)

Stone art ware, stone inlay work

Ornamental framed mirrors

Glass statues (other than those of crystal)

Glass art ware (including pots, jars, votive, cask, cake cover, tulip bottle, vase)

Art ware of iron

Art ware of brass, copper/ copper alloys, electro plated with nickel/silver

Aluminium art ware

Handcrafted lamps (including panchloga lamp)

Worked vegetable or mineral carving, articles thereof, articles of wax, of stearin, of natural gums or natural resins or of modelling pastes etc, (including articles of lac, shellac)

Ganjifa card

Bamboo flooring

Zip and Slide Fasteners

Hand Operated Rubber Roller

Brass Kerosene Pressure Stove

GST slashed to 5%

Ethanol

Footwear costing up to Rs 1000

Solid bio fuel pellets

Chenille fabrics and other fabrics under heading 5801

Handloom dari

Phosphoric acid (fertilizer grade only)

Knitted cap/topi having retail sale value not exceeding Rs 1000

Handmade carpets and other handmade textile floor coverings (including namda/gabba)

Handmade lace

Hand-woven tapestries

Hand-made braids and ornamental trimming in the piece

Toran

Source : https://timesofindia.indiatimes.com/business/india-business/gst-rate-cut-he...

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