What will be cheaper than the new rates of GST .
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| Gst rate |
Several major decisions were taken in the 22nd GST Council meeting held in New Delhi. These include changes in time of filing of returns, enhancing the scope of the composition scheme, and improving the methods of refund to exporters.
Apart from this, some changes have also been made in the tax. Among these, tax has been deducted for 22 items and 5 services. This scam will benefit consumers directly.
These things will benefit consumers-
The rate of GST decreased from 12 percent to 5 percent on children's food and beverage items (ICDS).
Typically, tax on general papad, Khakra, chapati has been cut by 7 percent to 5 percent.
Less than 28 per cent of the tax on stationery items like Gemetry Box etc. has been reduced to 18 per cent.
GST has been reduced to 5% on unbranded Ayurvedic medicines. Earlier it was 12 percent.
The rate of GST has now been reduced to 5% on unbranded salt.
On the handmade yarn, the GST of 18 per cent has been reduced to 12 per cent.
The tax rate on diesel engine and water engine parts from 28 to 18 percent.
Taxes on construction stones (excluding granite), quota stone etc. in the construction industry will now be 18 percent.
Service payers whose turnover is less than 20 lakh. They have been removed from the Interstate Service Tax.
Taxes on paper vest, rubber waste and e-waste will now be 5 per cent instead of 12 per cent.
Job work in the service sector has been reduced to 5 percent. It will cost 5 percent tax on zari work.
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