Govt slashes GST rate on several products
Team Udayavani, Jul 23, 2018, 2:10 PM IST
New Delhi: Conceding a year long demand, sanitary pads today exempted from GST as the GST Council reduced tax rates on an array of daily use appliances and products.
While GST tax on sanitary pads was cut from 12 per cent to zero, rakhis were exempted from the tax, Finance Minister Piyush Goyal told reporters here.
“Sanitary napkins exempted from GST,” Goyal said.
Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol.
“GST Council cuts tax rate on an array of products. Rakhis have been exempted from GST, tax on ethanol has been cut to 5 per cent, small handicrafts have been exempted,” Goyal said.
Besides, tax rates on worked up Kota stone, sand stone and similar quality of local stones were cut from 18 to 12 per cent, with the purpose of avoiding classification disputes.
The value limit of footwear was enhanced from Rs 500 to Rs 1,000 for 5 per cent rate.?
GST on 17 items used by middle class viz Paints, Refrigerators, washing machines, vacuum cleaners, storage water heaters, TVs up to 68 cm was reduced from 28 to 18 per cent.
The next GST Council meeting will be held on August 4.
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