GST Council meet: Except 34 luxury items all goods to be under 18% slab, electronics, movie tickets get cheaper
GST Council on Saturday slashed tax rate on seven goods in the 28 per cent slab thus leaving only 28 luxury items such as dishwasher and cement left in the highest bracket
New Delhi: GST Council on Saturday slashed tax rate on seven goods in the 28 per cent slab thus leaving only 28 luxury items such as dishwasher and cement left in the highest bracket.
LED Monitors till 32 inches, powerbanks, sports items, video games will now be charged at 18%. while accessories for disabled has been brought down to 5% from 28%.
The big relief came in with the reduction of GST on movie tickets. Movie Tickets which were earlier in 18 per cent and 28 per cent has been reduced. Tickets up to Rs 100 will now have 12%, while tickets above Rs100 will now have 18 percent
V Narayanasamy, Puducherry Chief Minister on GST Council meet in Delhi: The original demand by Congress that all goods should come down to 18% & below except luxury items has been agreed by the Government. Except 34 items all other will come down to 18% & below. (2/2) https://t.co/IaRDXjy5Wa— ANI (@ANI) December 22, 2018
Ahead of the meeting, Haryana Finance Minister Captain Abhimanyu had said attempts to integrate tax rates has been the goal of the GST Council.
"Prime Minister (Narendra Modi) also wants that rates of GST be around 18 per cent. It is good if bare minimum products are kept in the 28 per cent slab, keeping in mind the scope of the GST. GST council and all the representatives of the country and the state will decide in the interest of the country rising above politics," he added.
Meanwhile, Kerala Finance Minister Thomas Isaac said a proposal has been put forth regarding reducing works contracts service tax to its lower limit.
The GST Council sub-committee reports on sugar, disaster cess are also likely to be taken up in the meeting.
In the 30th meeting, chaired by Union Finance Minister Arun Jaitley via video conferencing, the agenda revolved around the administerial progress made in the GST system. Discussions also took place on the necessity to levy cess in case of exigencies.