GST Review: List of cheaper goods | Fusion - WeRIndia

GST Review: List of cheaper goods

GST Review: List of cheaper goods

The GST Council is being met from time to time to review the tax. The 25th meeting was held on Thursday by the Council.

The rates on various goods were reviewed. And as per the recommendations, the tax rate on 49 items was reduced.

As a result, these items will be available cheaper from January 25. Here is a list of these goods.

The rate on old and used motor vehicles including medium and large cars, was reduced from 20 to 18 per cent, if the supplier has not availed the input tax credit of excise duty, VAT or GST.

The buses that are run on biofuels and are used for public transport will also come under this category.

Apart from medium and large cars, and SUVs, all other old and used motor vehicles come under 12 per cent category. Earlier the GST was 28 per cent. However, the supplier should not avail the input tax credit for the tax paid by him on these vehicles.

Sugar boiled confectionary, drinking water bottles of 20 litters, bio-diesel and bio-pesticides fall under 12 per cent category. Earlier they were in 18 per cent category.

The rate on Tamarind Kernel Powder, mehendi paste in cones, Scientific and technical instruments, apparatus, equipment, LPG supplied to household domestic consumers by private LPG distributors, was reduced to 5 per cent from 18 per cent.

Articles of straw, of esparto or of other plaiting materials; basket-ware and wickerwork fell to 5 per cent category from 12 per cent.

Diamonds and precious stones fell to 0.25 per cent from 3 per cent. There is no GST on Vibhuti, parts and accessories for the manufacture of hearing aids and de-oiled rice bran.

However, GST is hiked to 18 per cent from 12 per cent on cigarette filter rods, and Nil to 5 percent on rice bran except de-oiled ones.

Photo by ajit singh from Pexels (Free for commercial use)

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