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GST slashed on 29 items, 54 services
The Goods and Services Tax Council on Thursday decided to slash the GST rate on 54 services and 29 items, including old and used motor vehicles, public transport buses run on bio-fuels, sugar-boiled confectionery and packaged water, but could not finalise measures for simplification of the GSTN returns.
New Delhi: The Goods and Services Tax Council on Thursday decided to slash the GST rate on 54 services and 29 items, including old and used motor vehicles, public transport buses run on bio-fuels, sugar-boiled confectionery and packaged water, but could not finalise measures for simplification of the GSTN returns.
The much-talked about demand for bringing petroleum products within the ambit of GST did not come up for discussion on Thursday. The issues will be taken up at the next meeting, Finance Minister Arun Jaitley told media persons after the GST Council meeting here.
'Vibhuti' (sacred ash), parts and accessories for manufacture of hearing aids and de-oiled rice bran have been exempted from GST while all types of old and used motor vehicles other than medium and large cars and SUVs will now attract 12 per cent instead of 28 per cent GST. Old medium and large cars and SUVs will attract 18 per cent instead of 28 per cent.
The rate on sugar-boiled confectionery, drinking water packed in 20 litre bottles, fertiliser-grade phosphoric acid, bio-diesel and drip irrigation system have been reduced from 18 to 12 per cent. Tamarind kernel powder, mehendi paste in cones and domestic LPG supplied by private distributors will attract a reduced duty of five per cent instead of 18 per cent.
The exemptions from GST will, among other things, now apply to supply of services for providing information under RTI Act, legal services provided to government, local authority, governmental authority and government entity, transportation of goods from India to outside by air and sea, services relating to admission or conduct of examinations provided to all educational institutions, entrance fees for entrance examination and for transportation of students up to higher secondary schools.
On tailoring services it has been brought down from 18 per cent to 5 per cent. Admission to theme parks, joy rides and ballet will now be taxed at 18 per cent instead of 28 per cent.
