New GST rates | Fusion - WeRIndia

New GST rates

New GST rates

The GST Council met on July 21 and announced a cut on some items. The reduction in tax rate came into force from yesterday.

Nearly 88 items including refrigerators and washing machines are going to be cheaper due to the slash in GST rate.

Here is a list of some items which become cheaper:

Sanitary napkins, Rakhis except ones made of precious or semi-precious material, coir pith compost, sal leaves and their products, khali dona and raw material for brooms are completely tax exempt, i.e. they come under nil tax rate.

Handmade carpets, lace, braids and dari, handwoven tapestries, toran, fertilizer grade phosphoric acid and knitted caps are brought under the tax bracket of 5 per cent from 12 per cent.

Solid bio fuel pellets, ethanol made for blending with fuel, footwear of a retail sale price up to ₹1,000 per pair are moved to under 5 per cent from the earlier 18 per cent.

Bamboo flooring, brass kerosene pressure stove, zip and slide fasteners, hand operated rubber roller, jewelry box, handbags, pouches, purses, ornamental framed mirrors, glass statues, glass and stone art ware, handcrafted lamps, art ware made of copper, brass, iron, aluminum and electroplated art ware made with nickel or silver are slashed to 12 per cent. Earlier, they were under 18 per cent GST rate.

The rate on fuel cell vehicles is 12 per cent. The previous rate was 28 per cent. There will be no compensation cess on these.

Washing machines, refrigerators, water coolers, milk coolers and ice cream freezer, paints, grafting putty, resin cements, vacuum cleaners, lithium ion batteries, television sets of up to the size of 68 cm, immersion heater and storage water heater, hair dryers and hand dryers, food grinders and mixers, vegetable juice extractors, hair clippers, crane lorries and works trucks, trailers and toilet sprays are brought under the rate of 18 per cent from 28 per cent.

Image Credit: Tiven Gonsalves / CC BY-SA 4.0

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