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Sunday , 19 November 2017
Breaking News

GST rates revised for 66 items; movie tickets, insulin, etc. to become cheaper

In a welcome development, the GST Council has revised the rates for 66 items. The announcement for the revision of rates was made by Finance Minister Arun Jaitley at the Council’s 16th meeting. The Council had received requests to reduce rates on 133 items, out of which, it has accepted the proposals for 66 items. Here are some of the key items that would become cheaper post the revision in rates.

  • Movie tickets – GST rate for movie tickets below Rs 100 reduced from 28 percent to 18 percent. Rate for tickets above Rs 100 remains unchanged at 28 percent.
  • Insulin – Reduced from 12 percent to 5 percent. Rate for dental wax reduced from 28 percent to 8 percent.
  • Packaged foods – Common eatables such as pickle, instant food, etc. reduced from 18 percent to 12 percent.
  • School items – Schools bags revised from 28 percent to 18 percent; notebooks from 18 percent to 12 percent; and coloring books from 12 percent to zero percent.
  • Printers – Down from 28 percent to 18 percent.
  • Cutlery – Down from 18 percent to 12 percent.
  • Tractor components – Down from 28 percent to 18 percent.
  • Plastic items – Plastic beads and plastic tarpaulin down from 28 percent to 18 percent.
  • Agarbatti – Down from 12 percent to 5 percent.
  • Cashew – Down from 12 percent to 5 percent.

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