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From movie tickets to TV screens, full list of items which got cheaper after 31st GST Council meet
In a relief to the common man, the GST Council Saturday cut rates on 23 commonly used goods and services, including TV screens, movie tickets and power banks.
DNA Web Team | Dec 22, 2018, 05:35 PM IST
1.Movie tickets are now cheaper
GST on movie tickets costing up to Rs 100 was cut to 12 per cent from 18 per cent, while tickets over Rs 100 will attract 18 per cent tax, against 28 per cent earlier. This will have a revenue implication of Rs 900 crore.
2.GST rates have been reduced on up to 32-inch TV
Monitors and TV screens up to 32-inches and power banks will attract 18 per cent GST, as against 28 per cent earlier.
The new tax rates will come into effect from January 1, 2019.
3.GST rate reduced on certain auto parts
The GST on certain auto parts has been reduced from 28% to 18%.The items include pulleys, transmission shafts and cranks, gear boxes etc., falling under HS Code 8483
4.No change in GST rate on cement
Jaitley said there was no discussion on GST rate for cement in the council team.
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5.Religious travelling is cheaper now!
GST on religious air travel has been reduced from 18% to 12% and 5%."Air travel of pilgrims by non-scheduled/charter operations, for religious pilgrimage facilitated by the Government of India under bilateral arrangements shall attract the same rate of GST as applicable to similar flights in Economy class (i.e. 5% with ITC of input services)." said an official statement.
6.GST rates on tyres slashed
GST rates on Tyres have been reduced from 28% to 18%. Re-treaded or used pneumatic tyres of rubber to attract 18% GST, not 28% as earlier.
7.GST on Jan Dhan account service exempted
Services supplied by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) shall be exempted.
8.GST on products like wheelchair have been reduced to half
GST rate on accessories for carriages for specially abled persons have been brought down to 5%.
9.Cut in GST for Power banks of Lithium-ion batteries
GST rate on third party motor insurance has been brought down from 28% to 18%. "Power banks of lithium ion batteries. Lithium ion batteries are already at 18%. This will bring parity in GST rate of power bank and lithium ion battery," said an official statement.
10.GST on frozen vegetables done away with
GST rate on frozen vegetables have been cut to zero.
11.Shoes to be cheaper now
The report says the GST rate on footwear has been cut to 12%.
12.GST rate on third party motor insurance
GST rate on third party motor insurance has been brought down from 28% to 18%. "GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12%," said an official statement.
13.No tax on music books
GST rate on music books is now 5% to Nil.
14.Digital cameras and video camera recorders to get cheaper
GST rate on Digital cameras and video camera recorders have been brought down from 28% to 18%.
15.GST rate on video game consoles and other games and sports items
Video game consoles and other games and sports requisites falling under HS code 9504.
(Inputs from Zee Business)
