No GST on sanitary pads, rakhis; rates slashed on shoes, several appliances

Cornelia Mascio
Luglio 21, 2018

The GST Council accepted a longstanding demand for exempting sanitary pads as the GST tax was cut from 12 per cent to zero.

Sanitary napkins will be exempt from GST, Maharashtra Finance Minister Sudhir Mungantiwar said on Saturday after a meeting of the GST Council.

"Refrigerators, small televisions, of up to 25 inches, lithium ion batteries, vacuum cleaners, domestic electrical appliances, such as food grinders, water heaters, immersion heaters, hair dryers, hand driers, electric smoothing irons, among others have been brought to the 18 percent slab", Goyal said.

Talking to reporters about the GST Council Meet in the afternoon, Sisodia said that the quarterly returns for traders with a turnover of up to Rs 5 crore have been given a nod by the GST Council.

The finance minister also said the GST Council has chose to focus on issues concerning the broader economy such as job creation rather than only on revenue targeting.

► Rakhis exempted from GST, tax on ethanol cut to 5%.

The value limit of footwear was enhanced from Rs 500 to Rs 1,000 for 5 per cent rate.?

While hotels with tariff below Rs 1,000 are exempted from GST, those with tariff between Rs 1,000-2,500 are taxed at 12 percent, those between Rs 2,500-7,500 at 18 percent, and above Rs 7,500 at 28 percent.

GST on handbags, handbags, jewellery box, wooden box for paintings, artware of glass, stone endeavour, ornamental framed mirrors, handmade lamps was also reduced to 12%.

Mr Goyal said, GST council has cleared 46 amendments which will be passed in Parliament.

In a mini-budget of sorts, the GST council significantly pruned the list of items placed in the highest tax slab of 28 percent, demonstrating the Centre and states' growing confidence in the new system that seeks to unify India into one common national market.

Sources said rate cuts and certain clarifications will have revenue impact of Rs 10,000 crore-Rs 11,000 crore annually. Mr Goyal said, return forms will be simplified into two formats - Sugaam and Sahaj. He will not have to file any more returns.

The controversial reverse charge mechanism (RCM) has also been deferred until September 2019.

The next GST Council meeting will be held on August 4.

This will reduce harassment of transporters, he said.

Given below is a list of revised GST rates.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE