Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Needmore seats to Win
Needmore seats to Win
2-min read

32-inch TVs, Video Games, Movie Tickets to Get Cheaper as GST Council Cuts Tax on 40 Items

While air conditioners and dish washers were not removed from the 28 percent slab, three items were moved from 18 percent to 12 percent, one item was shifted from 18 percent to 5 percent along with other changes in tax rates as well.


Updated:December 22, 2018, 8:17 PM IST
New Delhi: The 31st GST Council meeting on Saturday decided to move 33 items from the 18 percent tax slab to 12 percent and 5 percent while seven items were moved from 28 percent slab to 18 percent bracket.

The tax on wheel chairs has been reduced from 28 to 5 percent, movie tickets up to Rs 100 which had a GST of 18 percent have been brought down to 12 percent, the third party insurance has been reduced to 12 percent.

Also, special flights meant for religious trips will now be taxed at 5 percent for the economy and 12 percent for business class. Earlier, it was at 28 percent. Additionally, the GST on solar power generating plants will now be at 5 percent.

"The goods which are still under the 28 percent slab are mostly luxury and sin goods," informed Union Finance Minister Arun Jaitley. The 28 percent slab has items including automobile parts and cement. The finance minister termed them as high revenue items that need to be taxed for the fiscal health of the economy. Automobile parts generate Rs 28, 000 crore and cement, Rs 13,000 crore, added Jaitley.

While air conditioners and dish washers were not removed from the 28 percent slab, three items were moved from 18 percent to 12 percent, one item was shifted from 18 percent to 5 percent along with other changes in tax rates as well.

Jaitley also announced that a group of ministers will be studying the data on two years of GST and will be taking the expert assistance of NIPFP to find out the broad analysis indicates.

The next meeting is scheduled to be in January where a new composition scheme will be framed for small service providers. The threshold for small services will be taken up in next month.

Taxation on lottery is also on the next meeting's agenda. As of now, 12 percent for state organised lotteries and 28 percent on state authorised lotteries is taxed. The 32nd council meet will also decide on MSMEs' threshold limit.

Jan Dhan Yojana account holders and services provided by banks for deposit account holders will be exempted from tax.

"The original demand by the Congress that all goods should come down to 18 percent and below except luxury items has almost been agreed by the government. Except 34 items, all other will come down to 18 percent and below," said Narayanasamy.

The state’s finance minister also said that seven items have been moved from the 28 percent slab to 18 percent.

The council met on Saturday amid heightened expectation of rate cuts following Prime Minister Narendra Modi’s statement this week that '99 per cent things' would soon attract sub-18 per cent GST.

Over 1,200 goods and services fall into four broad tax slabs — 5, 12, 18 and 28 percent. Currently, there are close to 40 goods and services in the 28 percent slab, which comprises demerit and luxury goods, among other items.

The move is being seen in political circles as an attempt to woo the middle-class months ahead of the 2019 Lok Sabha elections.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Nitya Thirumalai
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
ICICI Bank 431.75 5.09
Reliance 1,336.85 0.22
SBI 355.35 3.84
IndusInd Bank 1,648.90 3.14
Larsen 1,544.15 4.61
Company Price Change %Gain
GRUH Finance 313.30 -4.42
Reliance 1,336.80 0.07
Larsen 1,543.65 4.60
SpiceJet 141.55 9.64
SBI 354.60 3.59
Top Gainers
Company Price Change %Gain
ICICI Bank 431.75 5.09
Larsen 1,544.15 4.61
Zee Entertain 376.85 4.55
JSW Steel 288.00 4.37
Bharti Airtel 353.20 4.25
Company Price Change %Gain
ICICI Bank 431.50 5.09
Larsen 1,543.65 4.60
Bharti Airtel 353.30 4.40
Vedanta 163.85 4.20
Tata Motors 182.15 4.09
Top Losers
Company Price Change %Gain
Tech Mahindra 735.85 -1.00
NTPC 129.15 -0.54
TCS 2,048.00 -0.29
HUL 1,749.60 -0.24
HCL Tech 1,065.95 -0.04
Company Price Change %Gain
NTPC 129.20 -0.54
HCL Tech 1,061.65 -0.46
TCS 2,049.65 -0.20
HUL 1,749.20 -0.10

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results