The GST Council on Saturday tweaked the tax slabs slashing rates on several items. Among the things set to get cheaper are TV sets and computer monitors.(HT file photo)
The GST Council on Saturday tweaked the tax slabs slashing rates on several items. Among the things set to get cheaper are and movie tickets. Announcing the slab revamp, Finance Minister said the new GST rates will be effective from January 1.
There were 34 items in the 28 per cent tax bracket which included luxury and ‘sin goods’ till now. However, the GST Council in its meeting on Saturday decided to take out 6 items from this list.
ITEMS SET TO GET CHEAPER
| Product | Old rate (in %) | New rate (in %) |
| Monitors | 28 | 18 |
| Television screens (up to 32 inches) | 28 | 18 |
| Tyres | 28 | 18 |
| Power banks of Lithium-ion batteries | 28 | 18 |
| Pulleys, transmission shafts and cranks, gear boxes etc. | 28 | 18 |
| Digital cameras and video camera recorders | 28 | 18 |
| Video game consoles and other games. | 28 | 18 |
| Movie tickets (above Rs 100) | 28 | 18 |
| Accessories for carriages for specially abled persons | 28 | 5 |
| Movie tickets (up to Rs 100) | 18 | 12 |
| Cork roughly squared or debagged | 18 | 12 |
| Articles of natural cork | 18 | 12 |
| Agglomerated cork | 18 | 12 |
| Marble rubble | 18 | 5 |
| Natural cork | 12 | 5 |
| Walking Stick | 12 | 5 |
| Fly ash Blocks | 12 | 5 |
| Music Books | 12 | 0 |
| Vegetables* | 5 | 0 |
| Vegetable provisionally preserved** | 5 | 0 |
* (Uncooked or cooked by steaming or boiling in water), frozen, branded and put in a unit container
** (For example by sulphur dioxide gas, in brine, in sulphur water or in other preservative solutions), but unsuitable in that state for immediate consumption.
* The services supplied by the banks to Jan-Dhan account holders will be exempted from GST
The rate tweaks come amid intense political debate over the implementation of the tax reform rolled out on July 1, 2017 with the BJP and the Congress targeting each other.
The Prime Minister had recently hinted that his government was working on bringing 99 per cent things under sub-18 per cent slab of GST.
“Today, the GST system has been established to a large extent and we are working towards a position where 99 per cent things will attract the sub-18 per cent GST slab,” Modi said at in function in Mumbai on Tuesday.
To this, Congress president Rahul Gandhi response was that the government was doing the very same thing it had criticized the UPA government for.
“The Congress has finally jolted Narendraji from his deep slumber on Gabbar Singh Tax. Though still drowsy, he now wants to implement what he had earlier called the Congress Party’s ‘Grand Stupid Thought’. Better late then never Narendraji!,” Gandhi tweeted.
First Published: Dec 22, 2018 16:58 IST
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