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REVISED GST RATE - GST Council Reviews Tax Rates For 66 Items  

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Joined:7 months  ago
Posts: 56
June 12, 2017 12:42 pm  

REVISED GST RATE  - GST Council Reviews Tax Rates For 66 Items

GST council revised rates on 66 items such as pickles, sauces, fruit preserves, insulin, cashew nuts, insulin, school bags, colouring books, notebooks, printers, cutlery, agarbattis and cinema tickets, following representations from industry. 

Restaurants, manufacturers and traders having a turnover of up to Rs 75 lakh can avail of the composition scheme with lower rates of 5%, 2% and 1%, respectively, with lower compliance, against Rs 50 lakh previously. A GST rate of 5% will be applicable on outsourcing of manufacturing or job work in textiles and the gems and jewellery sector. Bleaching and cleaning of human hair, a big industry in Midnapore, will not face any tax. 

A number of household items in the packaged food category that had been placed in the 18% bracket such as pickles, mustard sauce, ketchups, fruit preserves and sandwich toppings will now attract 12% GST. 

The rate on agarbattis has been lowered to 5% from 12% proposed earlier. School bags will face a rate of 18% instead of 28%, exercise books will attract 12% instead of 18% and colouring books will be exempt instead of 12% proposed earlier. Steel cutlery will attract 12% instead of 18% and computer printers 18% instead of 28%. Fly ash bricks and blocks will attract 12% 

Movie tickets costing below Rs 100 will now attract 18% GST while 28% will continue for those over Rs 100.

 

For workers in industries such as textiles and, gems and jewellery, where they take work home, a GST rate of 5% will be charged instead of the 18% standard rate on outsourcing. 

 

Download PDF- REVISED GST RATE FOR CERTAIN GOODS

http://www.cbec.gov.in/resources//htdocs-cbec/gst/gst_rates_approved%20_by_gst_council%20_11.06.2017.pdf

Edited: 6 months  ago

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June 12, 2017 12:46 pm  

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