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GST Council reduces GST Rates of 23 goods and services; revised rates effective from January 1, 2019

The GST rate on movie tickets, costing up to Rs 100, was cut to 12 percent from 18 percent, while tickets over 100 rupees will attract 18 percent tax against 28 percent. Monitors and TV screens up to 32-inches and power banks will attract 18 percent GST, as against 28 percent earlier.

Dec 24, 2018 11:23 IST
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The Goods and Services Tax (GST) Council on December 22, 2018 slashed GST Rates for 23 commonly used goods and services. The reduced rates will come into effect from January 1, 2019.

The GST rate on movie tickets, costing up to Rs 100, was cut to 12 percent from 18 percent, while tickets over 100 rupees will attract 18 percent tax against 28 percent. Monitors and TV screens up to 32-inches and power banks will attract 18 percent GST, as against 28 percent earlier.

With this rate rationalisation, only 28 goods are left in the highest 28 percent tax bracket.

The rate rationalisation was a part of the government's attempt to streamline GST and make it more people-friendly.

GST rate reduction from 28 percent to 18 percent

Pulleys, transmission shafts and cranks, gear boxes, falling under HS Code 8483

Monitors and TVs of up to screen size of 32 inches

Used pneumatic tyres of rubber

Power banks of lithium ion batteries.

Digital cameras and video camera recorders

Video game consoles and other games and sports requisites falling under HS code 9504

Other GST Rate Reductions

28% to 5%

18% to 12%

18% to 5%

12% to 5%

12% to Nil

5% to Nil

Parts  and accessories for carriages of disabled persons

Cork roughly debagged

Marble rubble

Natural cork

 

Music Books

Vegetables – boiled, frozen, branded

 

Articles of natural cork

 

Walking Stick

 

Vegetable preserved but unsuitable for immediate consumption

 

Agglomerated cork

 

Fly ash Blocks

 

 

Exemptions from GST

The GST Council also exempted few goods and services from levy of GST. These services are:

Supply of gold by Nominated Agencies to exporters of gold Jewellery

Proceeds received by Government from auction of gifts received by President, Prime Minister, Governor or Chief Minister and public servants

Exemption from Compensation cess on vehicles imported for temporary purposes under the Customs Convention on the Temporary importation of Private Road Vehicles

GST on Solar Power Plant and other renewable energy plants

The GST council prescribed a GST rate of 5 percent on renewable energy devices and parts for their manufacture such as bio gas plant, solar power based devices, solar power generating system, etc.

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