Consumers will pay less for these items of common consumption as the reduction in GST rates come into effect today.
In a new year gift to the common man, 23 items will get cheaper from today as reduced GST rates come into effect. The government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen.
The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from Tuesday.
The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.
The Council had rationalised the 28% slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.
1. Items on which GST has been lowered to 18% from 28%
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The goods on which GST has been lowered to 18% from 28% at present include power banks of lithium-ion batteries, digital cameras, video camera recorders and video game consoles.
List:
Pulleys
Transmission shafts and cranks
Gearboxes
Retreaded or used tyres
Power banks of lithium-ion batteries
Digital cameras, video camera recorders and video game consoles
Movie tickets over Rs 100
Monitors and TV screens up to 32 inches
2. Items brought down in 12% GST slab
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The GST Council also decided to slash insurance premium of goods carrying vehicles to 12% from 18%. GST on movie tickets costing up to Rs 100 has been cut to 12%, from 18%.
List:
Third party insurance premium of goods carrying vehicles
Movie tickets costing up to Rs 100
3. Items added in lower GST slab of 5%
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The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28% to 5%. The other items which will attract lower GST rate of 5% include marble rubble, natural cork, walking stick, fly ash blocks.
Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5%.
List:
Parts and accessories for the carriages for disabled persons
Marble rubble
Natural cork
Walking stick
Fly ash blocks
Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements
4. Items exempted from GST
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Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST.
Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST.
List:
Music books
Vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container
Vegetables provisionally preserved but unsuitable in that state for immediate consumption
Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana
