Tax rates dropped on 193 items


Sudhir Mungantiwar
Mumbai, date. 16th: Item rates are dropped in three phases under the GST Act. Out of 228 items, tax on 193 items is reduced from 28% to 18%. Rates of some items in 18%and 12% tax rate slab are marked down. Tax waiver is given on some items, informed Finance Minister Sudhir Mungantiwar.
Item rates that are reduced from 285 to18% includes  plywood, veneer panels, laminated wood, stove(excluding kerosene and LPG stove), wristwatches, pocket, and other watches, stopwatches, fridge, freezer, water cooler, milk cooler, refrigerator or cooling machines, washing machine,  vacuum cleaner, 68 cm TV sets, 32 inches screen monitor etc. items.
Tax rates on packed drinks, condensed milk, and agricultural machinery used for cultivation, plantation, or seeding, lawn or sports ground rollers, work contract services handed by sub-contractors to the main contractor is dropped from 18% to 12%.
      Tax rates for items included in 18% and12% tax rate slab- computer software, compact disk read-only memory (CD ROM), recorded magnetic tape, microfilms, microfiches, domestic LPG, footwear-costing Rs. 1000 per pair are reduced to 5%. Tax rates on electric vehicles are dropped from 12% to5%. Tax rates on electric vehicle charger or charging station are dropped from 18 % to5%. The tax rate on airline fares of Government of India sponsored pilgrims (including ITC on input services) are dropped to 5%.
GST rate concessions limit on the entrée tickets of drama music, dance, drama, and orchestra, folk or classical art in any language is increased from Rs. 250 to Rs. 500.
The tax rate on the cinema ticket up to Rs. 100 is reduced from 18% to 12% and cinema ticket above Rs. 100 is reduced from28% to 18%. Considering women’s health safety and sanitation, sanitary napkins are made tax-free, informed Finance Minister Sudhir Mungantiwar. Tax rate reductions will lead to increase in tax-payments and eventually in revenue increase, Finance Minister Shri. Mungantiwar expressed hope. He said that common man and business-industries are relived due to tax rates reduction.
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