Crucial Decisions are being taken by GST Council to revamp GST tax rates

GST

Many items which were in the 28% slab of GST is to be brought down to 18%. And in the 28% slab there will be only 50 items. According to reports, most of the mass consumption items are being brought down to 18% slab.

Paints, cements and some of the luxury items like washing machine, air conditioners are still to be remained in 28% slab.

Some of the mass consumption items which were brought down to 18% slab are chewing gum, women cosmetics, shaving and after shave items, chocolates, deodorants, washing powder detergent, granite, marble

These steps are been taken to mitigate the challenges if small and medium sized enterprises which are hit by the indirect tax system.

Also in the council meet the council seems to have decided to approve simpler procedures for filling returns by the small firms, which will make the GST scheme more attractive.

Today’s meeting is the council’s 23rd meeting. GST council is been meeting every month since GST was launched on July 1st 2017. GST has been launched to implement new indirect tax regime.

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