ET
Online|Updated: Jul 21, 2018, 11.42 PM IST
In a monsoon bonanza for common man, the GST
Council today cut tax rates on over 100 items, including several general-use
items like TV, washing machine, footwear and refrigerators. Not just that,
conceding to a year-long demand, the Council has now put sanitary napkins under
the exempted category. In a good news for traders, the Council announced an
easier return filing procedure through new simplified forms called 'Sugam' and
'Sahaj'. Also, enterprises with annual turnover of up to Rs 5 crore would now
have to file quarterly returns instead of the current monthly filing, however
they would have to pay tax monthly. The new rates would come into effect from
July 27. The rate reductions is estimated to cost the government exchequer
nearly Rs 7,000 crore.
Here is the list of all the items that have become cheaper after
rate cut:
GST rate cut from 28% to 18%
- Refrigerators, freezers and other refrigerating or freezing equipment including water cooler, milk coolers, refrigerating equipment for leather industry, ice cream freezer etc.
- Washing machines
- Televisions up to the size of 68 cm or 27 inch
- Vacuum cleaners
- Domestic electrical appliances like food grinders and mixers & food or vegetable juice extractor, shaver, hair clippers etc
- Lithium-ion batteries
- Storage water heaters and immersion heaters, hair dryers, hand dryers, electric smoothing irons etc
- Scent sprays and toilet sprays, powder-puffs and pads for the application of cosmetics or toiletries
- Paints and varnishes (including enamels and lacquers)
- Glaziers’ putty, grafting putty, resin cements
- Special purpose motor vehicles. e.g., crane lorries, fire fighting vehicle, concrete mixer lorries, spraying lorries
- Works trucks [self-propelled, not fitted with lifting or handling equipment] of the type used in factories, warehouses, dock areas or airports for short transport of goods.
- Trailers and semi-trailers.
New
items brought under 0% tax exemption
·
Stone/Marble/Wood
Deities
·
Rakhi [other than that
of precious or semi-precious material of chapter 71]
·
Sanitary Napkins,
·
Coir pith compost
·
Sal Leaves siali leaves
and their products and Sabai Rope
·
PhoolBhariJhadoo [Raw
material for Jhadoo]
·
Khali dona
·
Circulation and
commemorative coins, sold by Security Printing and Minting Corporation of India
Ltd [SPMCIL] to Ministry of Finance.
Rate slashed from 12% to 5%:
·
Chenille fabrics and
other fabrics under heading 5801
·
Handloom dari
·
Phosphoric acid
(fertilizer grade only).
·
Knitted cap/topi having
retail sale value not exceeding Rs 1000
From
18% to 5%
·
Ethanol for sale to Oil
companies for blending with fuel
·
Solid bio fuel pellets
From 12% to 5%
·
Handmade carpets and
other handmade textile floor coverings (including namda/gabba)
·
Handmade lace
·
Hand-woven tapestries
·
Hand-made braids and
ornamental trimming in the piece
·
Toran
From
28% to 12%
· Fuel Cell Vehicle.
Further, Compensation cess shall also be exempted on fuel cell vehicle.
From 18% to 12%
- · Bamboo flooring
- · Brass Kerosene Pressure Stove
- · Hand Operated Rubber Roller
- · Zip and Slide Fasteners
- · Handbags including pouches and purses; jewellery box
- · Wooden frames for painting, photographs, mirrors etc
- · Art ware of cork [including articles of sholapith]
- · Stone art ware, stone inlay work
- · Ornamental framed mirrors
- · Glass statues [other than those of crystal]
- · Glass art ware [ incl. pots, jars, votive, cask, cake cover, · tulip bottle, vase ]
- · Art ware of iron
- · Art ware of brass, copper/ copper alloys, electro plated with nickel/silver
- · Aluminium art ware
- · Handcrafted lamps (including panchloga lamp)
- · Worked vegetable or mineral carving, articles thereof, articles of wax, of stearin, of natural gums or natural resins or of modelling pastes etc, (including articles of lac, shellac)
- · Ganjifa card
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