The all-powerful GST Council today veered around the idea of making the GST return filing process simpler to ease compliance burden for small businesses.
The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting today decided to reduce tax rate on 29 items and 54 categories of services with effect from January 25.
Add WION as a Preferred Source
Heres a list of all items under the new tax slabs:
List of good reduced from 28 per cent to 18 per cent
- Old and used motor vehicles [medium and large cars and SUVs] on the margin of the supplier, subject to the condition that no input tax credit of central excise duty/value-added tax or GST paid on such vehicles has been availed by him
- Buses, for use in public transport, which exclusively run on biofuels
List of good reduced from 28 per cent to 12 per cent
- All types of old and used motors vehicles [other than medium and large cars and SUVs] on the margin of the supplier of subject to the conditions that no input tax credit of central excise duty /value added tax or GST paid on such vehicles has been availed by him
List of good reduced from 18 per cent to 12 per cent
- Sugar boiled confectionary
- Drinking water packed in 20 litters bottles
- Fertilizer grade Phosphoric acid
- Bio-diesel
- Bio-pesticides
- Bamboo wood building joinery
- Drip irrigation system including laterals, sprinklers
- Mechanical Sprayer
List of good reduced from 18 per cent to 5 per cent
- Tamarind Kernel Powder
- Mehendi paste in cones
- LPG supplied for supply to household domestic consumers by private LPG distributors Scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mockups and modules, raw material and consumables required for launch vehicles and satellites and payloads
List of good reduced from 12 per cent to 5 per cent
- Articles of straw, of esparto or of other plaiting materials; basketware and wickerwork
List of good reduced from 12 per cent to 5 per cent with no refund of unutilised input tax credit
List of goods on which no GST will be charged
- Vibhuti
- Parts and accessories for manufacture of hearing aids
- De-oiled rice bran
List of good increased from 12 per cent to 18 per cent
List of good increased from nil to 5 per cent
- Rice bran (other than de-oiled rice bran)