Saturday, December 22, 2018

Good news: 33 things need to be cheaper, the government has reduced the rate of GST, what happened cheap?

Good news: 33 things need to be cheaper, the government has reduced the rate of GST, what happened cheap?

33 GST rates on products have been reduced to 18%, 12%, 5%.
In the 31st meeting of the GST Council, it has been decided to reduce GST from 33 items. 7 items have been brought in a 28% slab. Congress leader Virendra Sawani said that GST has been reduced on 33 items. 7 items have been brought in a 28-percent slab. 28 items have been brought from 18% slab to 12% of the tablets. Let me tell you that last week PM Modi talked about reducing rates. GST Council press conference will be held at 4 hours.
33 GST rates on products have been reduced to 18%, 12%, 5%. Tire, VCR, Lithium battery has been brought down from 28% of the diamond to 18%.
33 GST reduced on luggage - Chief Minister of Pondicherry Narayan Swamy said that aggregate 33 items have agreed on the reduction in GST rates. In this 7 items have been reduced from 28% to 18 or lower slab. Whereas, 27 items have been reduced from 18% to 12, 5% or in a slab of cumin. All these items are common everyday items of daily wages.
What happened cheap
Finance Minister Arun Jaitley said that Tier, VCR and Lithium Battery have been brought down to 18% from the 28% rate. TV rates up to 32 inches have been reduced from 28% to 18%. In the 28% slab, only 34 items survived. Cinema tickets above Rs 100 will get 18%. When a Cinema Tickets below Rs 100, it will be 12% GST.
GST has been reduced from 28% to 18% on the tire. GST on Wheel Chair has been reduced from 28% to 5%. GST has been reduced from 5% to zero on Frozen Vegetables. The GST rate on Footwear has been reduced from 18% to 12%. GST on billiards and snooker has been reduced from 28% to 18%. GST on Lithium Battery has been reduced from 28% to 18%. Third party motor insurance has reduced GST from 18% to 12%. Instead of 18% on religious pilgrimage, now 12% to 5% rate has been decided.
The Finance Minister said that the reduction in GST on cement is about Rs 13,000 crore, so that it is not discussed yet. The next meeting of the GST Council will be held in January. The real estate sector will also be discussed in this series.
The Finance Minister said that everyday things will be cheaper. Reducing rates on auto parts will have a revenue of 20,000 crores.
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