The government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen.
The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from Tuesday, 1 January 2019.
The GST Council on 22 December decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.
The Council had rationalised the 28 percent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.
List of Items That Will Cost Less
The goods on which GST has been lowered to 18 percent from 28 percent at present include:
- Video game consoles
- Monitors and TV screens up to 32 inches
- Video camera recorders
- Digital cameras
- Power banks of lithium ion batteries
- Used tyres
- Gear boxes
- Transmission shafts
GST on movie tickets costing up to Rs 100 has been cut to 12 percent, from 18 percent. Also tickets over Rs 100 will attract 18 per cent GST, against 28 per cent earlier.
The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28 percent to 5 percent. Also third party insurance premium of goods carrying vehicles has been reduced from 18 percent to 12 percent.
The other items which will attract lower GST rate of 5 percent include marble rubble, natural cork, walking stick, fly ash blocks.
Items Exempted from GST
Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST.
Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST.
Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 percent.
(With inputs from PTI)
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