GST rates reworked

GST rates reworked

GST rates reworked, 178 items from 28% to 18%, restaurant bills to get cheaper from Nov 15

Guwahati:- GST Council meeting on Friday and decided to cut the tax rates on daily use items such as restaurants to 5 Percent, left only 50 products under the highest 28 percent slab, and increased the composition limit for small businesses.

Union Finance Minister Arun Jaitley said a uniform 5% GST will be charged on food bill in both air-conditioned and non-AC. At present, 12 percent GST on food bill is levied in non-AC restaurants while 18% in air-conditioned ones. However, in starred hotels restaurants in that charge Rs. 7,500 or more per day room tariff will be levied 18% GST but input tax credit is allowed to them.

Tax has been reduced from 28% to 18% on many items i.e. Chewing gum, chocolates, coffee, custard powder, marble and granite, dental hygiene products, polishes and creams, sanitary ware, leather clothing, artificial fur, wigs, cookers, stoves, after-shave, deodorant, detergent and washing powder, razors and blades, cutlery, storage water heater, batteries, goggles, wristwatches, mattress Wire and cables, furniture, mattress, trunk, suitcase, detergents, shampoos, hair cream, hair dyes, makeup, fans, lamp, rubber tubes and microscope.

Prime Minister Narendra Modi took to Twitter and said, “All our decisions are people-inspired, people-friendly and people-centric. We are working tirelessly for India’s economic integration through GST.”

Search Here For Updated GST Rate list

written by:– Kiran M

 

 

 

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