In a new year gift to the common man, the government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen.
The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on them will come down from January 1.
The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.
The Council had rationalised the 28 percent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers. The goods on which GST has been lowered to 18 percent from 28 percent at present include pulleys, transmission shafts and cranks, gear boxes, retreaded or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders and video game consoles.
The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28 percent to 5 percent. Also third party insurance premium of goods carrying vehicles has been reduced from 18 percent to 12 percent.
The other items which will attract lower GST rate of 5 percent include marble rubble, natural cork, walking stick, fly ash blocks.
Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST.
Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST.
Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 percent. GST on movie tickets costing up to Rs 100 has been cut to 12 percent, from 18 percent. Also tickets over Rs 100 will attract 18 percent GST, against 28 percent earlier.
Monitors and TV screens up to 32 inches and power banks will attract 18 percent GST, as against 28 percent earlier.
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