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GST Rates Cut: New GST rates on 23 items

The GST Council has slashed GST rates. With the GST cut 23 items to get cheaper for the common man. The most important once out of 23 goods & services are movie tickets, TV/monitor screens, power banks along with frozen & preserved vegetables. The 31st meeting of Goods & Services Tax (GST) Council happened in Delhi headed by the finance minister Arun Jaitley. The decision was taken to reduce GST on some of the most important items for the common man.

In the meeting GST on the 23 items were reduced, tax rates on 7 items which were in 28% slab have been slashed down. Now there are just 28 items in the 28% GST tax slab.

New GST Rates: List of what gets cheaper:

  • 28% GST to 18%
    • Digital cameras, video camera recorders, video game consoles, other games & sports
    • Pulleys, transmission shafts & cranks, gear boxes etc
    • Re-treaded or used pneumatic tyres of rubber
    • Monitors and TVs of up to screen size of 32 inches
    • Power banks of lithium ion batteries
  • 28% to 5%
    • Parts & accessories for carriages for disabled
  • 28% to 18%
    • Movie tickets (28% to 18% on tickets costing more than Rs. 100 & for tickets less than Rs. 100, the GST is reduced from 18% to 12%)
  • 18% to 12%
    • GST on third-party goods carrier vehicles is reduced from 18% to 12%
    • Articles of natural, agglomerated cork (reduced from 18% to 12%)
    • Services provided by banks on Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) are exempted from GST
    • Services supplied by rehabilitation professionals & by GTA professionals to government authorities
    • Air travel for pilgrimage
  • 18% to 5%
    • Marble rubble, walking stick, fly ash blocks
  • 12% to zero
    • Music books
  • 5% to nill
    • Vegetables, (uncooked or cooked by steaming or boiling in water), frozen, branded and put in a unit container
    • Vegetable provisionally preserved

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