Know what gets cheaper, as new GST rates kick-in today

Lower of Goods and Services Tax on more than 50 products, which was announced last week, will take effect today. Goods ranging from daily use appliances such as vacuum cleaners, washing machines and small TV to sanitary napkins will get cheaper.

The tax was slashed from 18% to 12% on an array of handicraft items such as handbags, wooden frames, handcrafted lamps etc.

ALSO READ: GST: Sanitary napkins exempted, tax lowered for other products

Footwear having a retail sale price between Rs 500 and Rs 1000 will attract a rate of 5 per cent from today, while those exceeding the Rs 1,000 mark will continue to attract 18 per cent GST.

1. Products on which GST reduced from 28% to 18%

  • Washing machines
  • Vacuum cleaners
  • Domestic electrical appliances including food grinders and mixers, shaver, hair clippers
  • Televisions up to the size of 68 cm
  • Refrigerators, freezers, refrigerating equipment for leather industry, etc.
  • Storage water heaters and immersion heaters, hair dryers, hand dryers
  • Lithium-ion batteries
  • Paints and varnishes
  • Special purpose motor vehicles. For instance, crane lorries, fire fighting vehicle, concrete mixer lorries, spraying lorries
  • Works trucks (self-propelled, not fitted with lifting or handling equipment)
  • Trailers and semi-trailers
  • Scent sprays, powder-puffs and pads for the application of cosmetics or toilet preparations

2. From 28 per cent to 12 per cent

  • Fuel Cell Vehicle (compensation cess will also be exempted)

3. Zero GST products

  • Sanitary Napkins
  • Stone/Marble/Wood Deities
  • Rakhi
  • Coir pith compost
  • PhoolBhari Jhadoo (Raw material for Jhadoo)

4. From 12 per cent to 5 per cent

  • Chenille fabrics and other fabrics
  • Handloom dari
  • Knitted cap/topi having retail sale value not exceeding Rs 1000

5. From 18 per cent to 12 per cent

  • Bamboo flooring
  • Brass Kerosene Pressure Stove
  • Hand Operated Rubber Roller
  • Zip and Slide Fasteners

6. From 18 per cent to 5 per cent

  • Ethanol for sale to oil marketing companies for blending with fuel
  • Solid biofuel pellets

Click here for Latest News updates and viral videos on our AI-powered smart news genie

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here