23 goods and services become cheaper from today

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New Delhi: As many as 23 goods and services, including movie tickets, TV and monitor screens have become cheaper from today as the reduced Goods and Services Tax (GST) on them came in to effect from on Tuesday.

On December 22, GST Council had decided to cut tax rates on 23 goods and services and exempted Music books, preserved vegetables and savings bank accounts under the Jan Dhan Yojana from the Tax.

The Council had rationalised the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.

The goods on which GST has been lowered to 18 per cent from 28 per cent at present include pulleys, transmission shafts and cranks, gear boxes, retreaded or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders and video game consoles.

The GST Council has also decided to slash tax rate on parts and accessories for the carriages for disabled persons from 28 per cent to 5 per cent. Also third party insurance premium of goods carrying vehicles has been reduced from 18 per cent to 12 per cent.

The other items which will attract lower GST rate of 5 per cent include marble rubble, natural cork, walking stick, fly ash blocks.

Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST.

Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 per cent.

Also Read: Central Government To Infuse Rs. 10,086 Crore In Bank Of India

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