Friday, 10 November 2017

GOOD NEWS :- GST Rate On Daily Use Items Cut To 18% From Highest Slab Of 28%

GUWAHATI: The GST Council on Friday decided to reduce tax rate on a wide range of mass use items — from chewing gums to detergents — to 18 per cent from current 28 per cent, Bihar deputy chief minister Sushil Kumar Modi said.
The all-powerful council pruned the list of items attracting the top 28 per cent tax rate to just 50 from 227 previously, Modi told reporters here. In effect, the council, in its 23rd meet today, cut rates on 177 goods.

Facing intense heat from opposition-ruled states over keeping mass used goods in the 28 per cent bracket which was meant for luxury and de-merit goods, the Council pruned the list to 50 as against 62 that was recommended by its fitment committee.

The Goods and Services Tax (GST), implemented from July 1, has five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent.
"There were 227 items in the 28 per cent slab. The fitment committee had recommended that it should be pruned to 62 items. But the GST Council has further pruned 12 more items," Modi said.

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