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  4. GST Rate Cut: From movie tickets to frozen vegetables, here's complete list of items that will get cheaper

GST Rate Cut: From movie tickets to frozen vegetables, here's complete list of items that will get cheaper

Talking to media persons, Finance Minister Arun Jaitley said that six items have been removed from the 28 per cent tax bracket under the GST regime.

India TV News Desk India TV News Desk
New Delhi Updated on: December 22, 2018 23:55 IST
FM Arun Jaitley

FM Arun Jaitley

The GST council on Saturday slashed tax rate on 40 products, bringing 33 products either into 12 per cent or five per cent slab and the reamining seven products into 18 percent tax bracket (from 28 per cent slab).Talking to media persons, Finance Minister Arun Jaitley said that six items have been removed from the 28 per cent tax bracket under the GST regime. According to Jaitley, the fresh GST rate reduction will have an overall impact of Rs 5,500 crore on govt's revenue. The new GST rates will be effective from 1st January 2019, Jaitley added. There were 34 items in the 28 per cent tax bracket which included luxury and 'sin goods' till now. However, the GST Council in its meeting on Saturday decided to take out 6 items from this list.

Here is the list of items that will get cheaper:

Items moved to 18% slab from 28% slab -

Pulleys, transmission shafts and cranks, gear boxes

Monitors and TVs upto screen size of 32 inches

Re-treaded or used pneumatic tyres of rubber

Cinema tickets above Rs 100

Power banks of lithium ion batteries

Digital cameras and video camera recorders 

Also Read:  Movie tickets, TVs to be cheaper; all items used by common man removed from 28% GST slab | Key points

Items moved to 5% slab from 28% slab -

Parts and accessories for the carriages for disabled persons

Items moved to 18% slab from 12% slab -

Cork roughly squared or debagged

Articles of natural cork

Agglomerated cork

Cinema tickets up to Rs. 100

Third party insurance premium of goods carrying vehicles

Also Read: Big relief for aam aadmi as GST Council decides to lower tax on 40 products 

Items moved to 18% slab from 5% slab -

Marble rubble

Items moved to 12% slab from 5% slab -

Fly ash Blocks

Walking Stick

Natural cork

Items moved to 0% slab from 12% slab -

Music books

Items moved to 0% slab from 5% slab -

Vegetables frozen, branded and put in a unit container

Vegetable provisionally preserved but unsuitable in that state for immediate consumption

Watch: Arun Jaitley speak on gst rate cut

 

 

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