GST Council meeting today: Check which products become cheaper and dearer
The 28th meeting of the GST Council was held today in New Delhi, in which once again the 21-member committee has brought in revision to the list of items under Goods and Services Tax (GST). This time women sanitary napkins and air conditioner makers have seen big relief. In the meeting it is being known that, somewhat 30 products were discussed so far. The meeting was chaired by Union Minister of Railways, Coal, Finance and Corporate Affairs Piyush Goyal.
The council approved 46 changes in laws. No decision on sugar cess, only a report has been submitted. The next meeting on sugar cess will take place in Kerala.
Sanitary napkins have been exempted from GST, bringing in relief to women, while bamboo will come under 12% GST slab.
The Centre unilaterally transferred Rs 1.61 lakh crore of IGST in the kitty.
The GST council has now allowed hoteliers to tax consumers on actual tariffs and not 'declared tariffs'. This comes as a relief to the hospitality industry.
The council also lowered the tax on ethanol for oil companies. Now this product will be taxed at 5% under GST from their previous 18%.
The council also lowered the tax on ethanol for oil companies. Now this product will be taxed at 5% under GST from their previous 18%.
Not only this, the rate for refrigerators, freezers, trailers, semi-trailers and ACs were brought down to 18% from the previous 28% GST tax slab.
Leather items have also seen reduction in their GST rate from 28% to 18%. Also footwear until Rs 1000 per unit will now be taxed at 5%. Even GST rates for televisions up to 68cm and video games will be levied at 18% from their previous 28%.