The GST Council on 10 November 2017 reduced the Goods and Services Tax (GST) rate on a wide range of mass consumption items from 28 per cent to 18 per cent.
The council reduced the list of items attracting 28 per cent GST to just 50 from 227 previously. It slashed the GST rates on 177 goods ranging from chewing gums to detergents.
All types of chewing gum, chocolates, preparation for facial make-up, shaving and after-shave items, shampoo deodorants, washing powder detergent and granite and marble will now attract 18 per cent GST rate.
While, Luxury goods like washing machines, air conditioners and other items like paints and cement have been retained in the 28 per cent tax bracket.
This decision will have a revenue implication of Rs 20000 crore annually.
The Goods and Services Tax (GST) was implemented in the country on 1 July 2017 with five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent.
What: Reduced to 18 per cent
When: 10 November 2017