The Goods and Services Tax (GST) Council at its 16th meeting on Sunday has revised the rates of several items from the fitments originally made in the four-slab indirect tax structure, official sources said.
The council's final meeting continued during the day ahead of the rollout of the new tax regime proposed from 1 July .
Tax rates on certain kitchen items like pickles and mustard sauce, as well as movie tickets costing up to Rs 100 have been lowered as the Centre and states reduced levies on 66 items. Movie tickets costing Rs 100 and below will now attract 18 percent tax, as against 28 percent proposed earlier, while those above Rs 100 will continue to attract 28 per cent GST. Kitchen use items like pickles, mustard sauce and morabba will attract 12 percent GST, as against 18 percent proposed earlier. Also, tax rates on cashew nuts have been cut to 5 percent from 12 percent.
The GST Council also decided that traders, manufacturers and restaurant owners with turnover of up to Rs 75 lakh can opt for a composition scheme and pay taxes at the rate of 1, 2, and 5 percent respectively.
The council also lowered GST rates on children’s drawing books to nil from 12 percent. Computer printers will attract 18 percent tax as against 28 percent earlier. GST on insulin and agarbatti has also been lowered to 5 percent, while school bags will attract tax of 18 percent. Tax rate on kajal has been lowered to 18 percent from 28 percent. The rate on sanitary napkins, however, remain unchanged.
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