NEW DELHI: In a relief for common man, the GST Council on Saturday reduced tax rates on over 50 items including refrigerators, washing macines and small televisions, which would now be taxed at 18 per cent, down from the current 28 per cent.
Apart of bringing down rates, the Goods and Services Tax (GST) Council also exempted GST on sanitary napkins, rakhis, fortified milk and idols of deities made of stone, marble and wood.
The changes would come into effect across the country from July 27 onward, Finance Minister Piyush Goyal told media after the 28th meeting of the GST Council.
Have a look at the items that got cheaper.
GST on commodities slashed to 0%:
Supply of services by old-age homes
GST on commodities slashed from 28% to 18%:
Televisions (up to 68 cm) (27 inch) in size
Lithium-ion batteries used in mobile phones and electric vehicles
GST on commodities slashed from 18% to 12%:
Handbags including pouches and purses; jewellery box
Wooden frames for painting, photographs, mirrors etc
Ornamental framed mirrors
Brass Kerosene Pressure Stove
Art ware of iron
GST on commodities at 5%:
Solid biofuel pellets
Handmade carpets and other handmade textile floor coverings (including namda/gabba)
Hand-made braids and ornamental trimming in the piece
During the meeting, the council also made certain amendments to the GST Act including raising the upper limit of turnover for opting for composition scheme from Rs 1 crore to Rs 1.5 crore.
It also approved an amendment which will enable taxpayers to opt for multiple registrations within a state in respect of multiple places of business located within the same state.