GST Council Meet Updates: Big Rate Cuts For Consumer Durables, Paints And Cosmetics; Sanitary Napkins Exempt

Finance Minister Piyush Goyal and Finance Secretary Hasmukh Adhia during the 28th Meeting of the Goods and Services Tax Council (Source: PTI)

 

Key Tax Rate Changes

Exempt from GST:

Sanitary pads

Deities made of stone, marble or wood

Raakhis, without any precious metals

Raw material used in brooms

Commemorative coins circulated by the RBI or government

Saal leaves

Fortified milk

From 12 percent to 5 percent:

Handloom dari

Fertiliser grade phosphoric acid

From 28 percent to 18 percent:

Lithium-ion batteries

Vaccum cleaners

Food grinders, mixers

Shavers, hair clippers

Storage water heaters

Electric smoothing irons

Water cooler

Ice cream freezer

Refrigerators

Hand dryes

Cosmetics

Perfumes

Scents

Paint

Varnishes

Other changes:

GST on ethanol sold to oil companies for blending with petrol and diesel reduced to 5 percent from 18 percent earlier

GST on imported urea reduced to 5 percent

GST on E-books reduced to 5 percent from 18 percent

GST for hotels to be charged on the actual price that the customer pays and not on the declared tariffs

Created 09:34:27 pm

Major Step In Rationalising 28% Slab: Jaitley

The 28 percent GST slab has been narrowed down to only a few commodities now, says Union Minister Arun Jaitley.

Created 09:45:13 pm

Today's Changes Will Improve Compliance: Haryana FM

Haryana’s Finance Minister Captain Abhimanyu said the move to ask taxpayers with turnover up to Rs 5 crore to file returns only once a quarter will improve compliance. He added that the GST Council found it appropriate at the current juncture to experiment with rate changes since the revenue proceeds appear to be on track to reach set targets