GST for TV, Fridge, and video games reduced from 28% to 18%
Posted on: 24/Jul/2018 1:01:01 PM
With the recent meeting of the GST Council’s 28th meeting just concluded, there were expectations that the GST on the sanitary napkin for women would be reduced.
True to this,it has been decided to reduce the GST on sanitary napkins as announced after the meeting.
- Further, GST on bamboo products has been reduced to 12%. There has been no increase in the Cess Tax on sugar.
- There were strong protests and objections when a 12% GST was charged on the sanitary napkin, an essential item used by women. Now, after the 28th GST Council Meeting, this GST on sanitary napkins has been withdrawn.
- As the GST on ethanol has been reduced from 18% to 5%, there are prospects of a decrease in petrol prices.
- The trading agencies which do an annual business of up to Rs. 5 Crore s must file their GST Tax returns every quarter of the year. The others need to file their returns every month.
- GST Council has granted the approval to implement the simpler, easier, and quicker procedure to file GST returns. The GST council has reduced the GST from 29% for over 3 dozen items.
- The GST on paint and varnish has been reduced from 28% to 18%.
- The GST for shoes and footwear costing below Rs. 1000 has been reduced to 5%.
- Around 45 recommendations for GST for various items has been approved for change of GST in the 28th GST Council Meeting.
- The GST for items such as Refrigerators, washing machines, video games, and scents (perfumes) has been reduced from 28% to 18%.
- GST on leather items has been reduced from 28% to 18%.
- The GST for televisions for sizes up to 68 cm has been reduced from 28% to 18%.
- The GST for mixies and grinders has been reduced from 28% to 18%.
- The GST for trucks and trailers has been reduced from 28% to 18%.
