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GST Council revises tax rates for 66 items; Insulin, agarbattis to get cheaper

GST

New Delhi: The Goods and Services Tax (GST) Council on Sunday revised the rates of 66 items from what was originally stated in the four-slab indiret tax structure.

Finance minister Arun Jaitley made the announcement after the council’s 16th meeting. Under the revised tax rates, insulin, school bags, printers and agarbattis are set to get cheaper.

The GST council has revised tax levels on 66 out of 133 representations.

GST on insulin, agarbatti lowered to 5 per cent, school bags to attract tax of 28 per cent,” Jaitley said.

GST on movie tickets under Rs 100 has been slashed to 18 per cent, while tickets priced above Rs 100 will be taxed at 28 per cent tax, Jaitley said. The Council has also lowered tax rate on computer printers from 28 per cent to 18 per cent and on children’s drawing books to nil from 12 per cent

Kitchen use items like pickles, mustard sauce and morabba will attract 12 per cent GST , as against 18 per cent proposed earlier. Also, tax rates on cashew nuts have been cut to 5 per cent from 12 per cent.

All goods and services under the GST regime have been categorised in four tax slabs of 5, 12, 18 and 28 per cent, besides those items that attract zero tax.

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