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  • GST Council reduces tax rates of 66 items: Insulins, cashew nuts, school bags to get cheaper

    Jun 11th, 2017

    <p>Finance Minister Arun Jaitley today said that the rates of 66 items have been reduced after the 16th GST Council meeting in New Delhi.</p> <p>Jaitley said that rates on goods decided today would make the goods cheaper for common man.</p> <p>&quot;After considering the recommendations, the GST has reduced tax level in 66 out of 133 items,&quot; Finance Minister Arun Jaitley said addressing the press.</p> <p>Jaitley also said that the next GST Council meeting would take place next Sunday.</p> <p>These are the changes made in the tax levels of several articles by the GST council:</p> <ul> <li>GST on cashew nuts reduced from 12 per cent to 5 per cent</li> <li>GST on pickles, chutney, sauces, instant food mixes were charged at 18 per cent and are now reduced to 12 per cent</li> <li>GST on kajal slashed from 28 per cent to 18 per cent</li> <li>GST on insulin reduced from 12 per cent to 5 per cent</li> <li>GST on school bags reduced from 28 per cent to 18 per cent</li> <li>GST on children&#39;s colouring and drawing books revised from 12 per cent to nil</li> <li>GST on cutlery reduced from 18 per cent to 12 per cent</li> <li>GST on some tractor components will now attract 18 per cent compared to 28 per cent under previous arrangement</li> <li>GST on computer printers reduced from 28 per cent to 18 per cent</li> <li>GST rate of 28 per cent will be maintained for all cinema tickets above ` 100 while for tickets below ` 100, it will be reduced to 18 per cent.</li> </ul>


    Source: http://www.businesstoday.in
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