Live Markets »News & Advice»Most Read»Most Read Details
Most Read Details
Back

What gets cheaper as new GST rates kick in today? Here's a complete list

BS Web Team/New Delhi 27 Jul 18 | 10:45 AM

Representative Image

A number of goods ranging from daily use appliances such as vacuum cleaners, washing machines and small TV to a bunch of handicraft products will get cheaper from Friday. The 28th GST Council meeting held on 21 July had recommended cutting rates on more than 50 items.  

Related Stories

    No Related Stories Found
Widgets Magazine

Tax on sanitary napkins along with several other products was brought down to zero in the meeting chaired by Finance Minister Piyush Goyal. Previously, sanitary napkins were taxed at 12 per cent.

Further, GST was slashed (from 18 per cent to 12 per cent) on an array of handicraft items such as handbags, wooden frames, handcrafted lamps etc. 

ALSO READ: GST rate cut impact: Govt mulls import duty hike on consumer durables

Also, handicraft items that used to attract 12 per cent GST, such as handmade carpets, lace, hand-woven tapestries and toran, have been brought under the 5 per cent bracket.

Footwear having a retail sale price between Rs 500 and Rs 1000 will attract a rate of 5 per cent from Friday, while those exceeding the Rs 1,000 mark will continue to attract 18 per cent GST.

Here are the things that will now be cheaper with new GST rates coming into effect from Friday:

1. Reduced from 28 per cent to 18 per cent

Washing machinesVacuum cleanersDomestic electrical appliances such as food grinders and mixers & food or vegetable juice extractor, shaver, hair clippers etcTelevisions up to the size of 68 cmRefrigerators, freezers and other refrigerating or freezing equipment including water coolers, milk coolers, refrigerating equipment for leather industry, ice cream freezer etc.Storage water heaters and immersion heaters, hair dryers,  hand dryers, electric smoothing irons etcLithium-ion batteriesPaints and varnishes (including enamels and lacquers)Glaziers’ putty, grafting putty, resin cementsSpecial purpose motor vehicles. For instance, crane lorries, fire fighting vehicle, concrete mixer lorries, spraying lorriesWorks trucks (self-propelled, not fitted with lifting or handling equipment) of the type used in factories, warehouses, dock areas or airports for short transport of goods.Trailers and semi-trailersMiscellaneous articles such as scent sprays and similar toilet sprays, powder-puffs and pads for the application of cosmetics or toilet preparations

2. From 28 per cent to 12 per cent

Fuel Cell Vehicle(compensation cess will also be exempted)

3. From 18/12/5 per cent to zero

Sanitary NapkinsStone/Marble/Wood DeitiesRakhi (other than that of precious or semi-precious material)Coir pith compostSal Leaves, siali leaves and their products and Sabai RopePhoolBhari Jhadoo (Raw material for Jhadoo)Khali donaCirculation and commemorative coins, sold by Security Printing and Minting Corporation of India Ltd (SPMCIL) to Ministry of Finance.

4. From 12 per cent to 5 per cent

Chenille fabrics and other fabrics under heading 5801Handloom dariPhosphoric acid (fertilizer grade only)Knitted cap/topi having retail sale value not exceeding Rs 1000

5. From 18 per cent to 12 per cent

Bamboo flooringBrass Kerosene Pressure StoveHand Operated Rubber RollerZip and Slide Fasteners

6. From 18 per cent to 5 per cent

Ethanol for sale to oil marketing companies for blending with fuelSolid biofuel pellets

Widgets Magazine

Sensex

Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine