Govt. specifies list of items on which GST rate have been reduced

GST2The GST Council has specified the list of 177 items on which GST rate would be reduced from 28% to 18%. Further, on two items GST rate would be reduced from 28% to 12%.

At the 23rd GST Council Meeting as many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent. These measures are expected to cost the exchequer around Rs 20,000 crore, government officials said.

A uniform 5 per cent tax was prescribed for all restaurants, both air-conditioned and non-AC, Finance Minister Arun Jaitley said. Currently, 12 per cent GST is levied in non-AC restaurants and 18 per cent in air-conditioned ones.

These measures are expected to cost the exchequer around Rs 20,000 crore, government officials said. Items for which the GST rate has been cut from 28 per cent to 18 per cent include chocolates, chewing gums, detergents, shampoos, hair creams, henna powder/paste, deodorants, fans, pumps, lamps, sanitaryware, marble, granite, glass, wires, cables, electrical boards/panels, furniture, fire extinguishers, rubber tubes and all musical instruments and their parts. Tanks and armoured fighting vehicles have been now placed in the 12 per cent tax slab instead of the earlier 28 per cent.

Download the pdf here: GST Rates Revised

 

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