While daily use food items will continue to attract nil tax rate, common use food and beverages ranging from butter and ghee to dry nuts, condensed milk, sausages and meat, sugar boiled confectionery, jam and fruit jellies are likely to see a cut in tax rate to 5 percent from the current 18 percent.
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All individual life and health insurance policies will now attract nil tax in a bid to boost coverage and relief for taxpayers.
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Cement will now cost less with tax rate slashed to 18 percent from 28 percent.
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Petrol, LPG and CNG vehicles of less than 1,200 cc and not more than 4,000 mm length and diesel vehicles of up to 1,500 cc and 4,000 mm length, too, would move to 18 percent rate from 28 percent. EVs will continue to be charged at 5 percent GST.
Consumer electronics like air-conditioners, dishwashers, and TVs, too, will be taxed at lower GST of 18 percent as against 28 percent currently.
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Restaurant meals will now attract a uniform 5% GST, replacing the earlier 12–18% range. The move is expected to boost casual dining, family outings, and festive celebrations.
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Airfares are also set to decline. Economy-class tickets will now be taxed at 5% instead of 12%.
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Personal care and wellness services including salons, gyms, yoga centres, and fitness clubs will move to a concessional 5% slab (without input tax credit), down from 18%.
