GST rates revised: Full list of items with GST rate reduction from 28 to 12 to 5 and nil - Cement, laptop, insurance, Jan Dhan account and more

GST rate reduction: The 31st meeting of the Goods and Services Tax (GST) council took place today in Delhi. V Narayanasamy, Puducherry Chief Minister, who attended the meeting, told reporters,

Dec 23, 2018, 11:39 AM IST
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GST rate reduction: The 31st meeting of the Goods and Services Tax (GST) council took place today in Delhi. V Narayanasamy, Puducherry Chief Minister, who attended the meeting, told reporters, "33 items have come down from 18% to 12% and 5% as they are common man’s consumption goods." "The original demand by Congress that all goods should come down to 18% & below except luxury items has been agreed by the Government. Except 34 items all other will come down to 18% & below, he added. Check GST Council Meeting Today Updates

Full list of items whose GST rates have been revised follows:

1/21

GST on Vegetables - Frozen, branded

 GST on Vegetables - Frozen, branded

Vegetables, (uncooked or cooked by steaming or boiling in water), frozen, branded and put in a unit container. Vegetable provisionally preserved (for example by sulphur dioxide gas, in brine, in sulphur water or in other preservative solutions), but unsuitable in that state for immediate consumption to attract zero GST, said an official statement. (Pixabay)

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2/21

GST rate on auto parts - Check list of items

GST rate on auto parts - Check list of items

The GST on certain auto parts has been reduced from 28% to 18%.The items include pulleys, transmission shafts and cranks, gear boxes etc., falling under HS Code 8483 (Pixabay)

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3/21

GST rate on movie tickets

GST rate on movie tickets

Movie tickets are set to become cheaper. Reports say that Only 18% GST will be charged on movie tickets priced over Rs 100 and 12% on tickets priced below Rs 100. "GST rate on cinema tickets above Rs. 100 shall be reduced from 28% to 18% and on cinema tickets upto Rs. 100 from 18% to 12%," said an official statement. (Twitter)

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4/21

GST rate on cement: No change

GST rate on cement: No change

Jaitley said there was no discussion on GST rate for cement in the council team. (Pixabay)

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5/21

GST rate on Computer monitors, TV screens

GST rate on Computer monitors, TV screens

Monitors and TVs of upto screen size of 32 inches. (Pixabay)

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6/21

GST on religious air travel

GST on religious air travel

GST on religious air travel has been reduced from 18% to 12% and 5%."Air travel of pilgrims by non-scheduled/charter operations, for religious pilgrimage facilitated by the Government of India under bilateral arrangements shall attract the same rate of GST as applicable to similar flights in Economy class (i.e. 5% with ITC of input services)." said an official statement. (Pixabay)

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7/21

GST rate on tyres

GST rate on tyres

Re-treaded or used pneumatic tyres of rubber to attract 18% GST, not 28% as earlier. (Pixabay)

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8/21

GST rates on power banks of lithium-ion batteries

GST rates on power banks of lithium-ion batteries

"Power banks of lithium ion batteries. Lithium ion batteries are already at 18%. This will bring parity in GST rate of power bank and lithium ion battery," said an official statement. (Pixabay)

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9/21

GST rate on accessories for carriages for specially abled persons

GST rate on accessories for carriages for specially abled persons

GST rate on accessories for carriages for specially abled persons have been brought down to 5%. (Pixabay)

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10/21

GST rate on third party motor insurance

GST rate on third party motor insurance

GST rate on third party motor insurance has been brought down from 28% to 18%. "GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12%," said an official statement. (Reuters)

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11/21

GST on Jan Dhan account service

GST on Jan Dhan account service

The services supplied by the banks to Jan-Dhan account holders will be exempted from GST. "Services supplied by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) shall be exempted." said an offical statement (PTI)

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12/21

Gst rate reduction: Overall impact

Gst rate reduction: Overall impact

Finance minister Arun Jaitley said that today's GST rate reduction will have an overall impact on revenue of Rs 5500 crore. (PTI)

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13/21

GST rate reduction: Important date

GST rate reduction: Important date

New GST rates to be effective from 1st January 2019. (Pixabay)

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14/21

GST council meet today press release

GST council meet today press release

"The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:

Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed - Law Committee and Fitment Committee.
Tax rate on lotteries – Committee of States.
Taxation of residential property in real estate sector – Law Committee and Fitment Committee.
Threshold limit of exemption under GST regime – GoM on MSMEs.

GST council in its next meeting would take a view on the above issues in its next meeting." (Twitter)

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15/21

GST council: Next meeting

GST council: Next meeting

Next GST council meeting to take place in January. (DNA India)

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16/21

GST rate on music books

GST rate on music books

GST rate on music books is now 5% to Nil. (Pixabay)

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17/21

GST rate on Digital cameras and video camera recorders

GST rate on Digital cameras and video camera recorders

GST rate on Digital cameras and video camera recorders have been brought down from 28% to 18%. (Pixabay)

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18/21

GST rate on video game consoles, other games, sports items

GST rate on video game consoles, other games, sports items

Video game consoles and other games and sports requisites falling under HS code 9504. (Pixabay)

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19/21

GST on marble rubble

GST on marble rubble

GST on marble rubble to attract 5% GST now. (Pixabay)

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20/21

GST rate on Natural cork, Walking Stick, Fly ash Blocks

GST rate on Natural cork, Walking Stick, Fly ash Blocks

GST rate on Natural cork, Walking Stick, Fly ash Blocks to attrac 5% GST. (Pixabay)

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21/21

GST rate on solar power generating plant, renewable energy plants

GST rate on solar power generating plant,  renewable energy plants

GST rate of  5% rate has been prescribed on renewable energy devices & parts for their manufacture (bio gas plant/solar power based devices, solar power generating system (SGPS) etc) [falling under chapter 84, 85 or 94 of the Tariff]. Other goods or services used in these plants attract applicable GST.Certain disputes have arisen regarding GST rates where specified goods attracting 5% GST are supplied along with services of construction etc and other goods for solar power plant. To resolve the dispute the Council has recommended that in all such cases, the 70% of the gross value shall be deemed as the value of supply of said goods attracting 5% rate and the remaining portion (30%) of the aggregate value of such EPC contract shall be deemed as the value of supply of taxable service attracting standard GST rate. (Pixabay)

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