GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

GST Update: From Brooms to Sanitary Napkins, Handicrafts to Consumer Electronics, Expect Cheaper Goods from July 27, 2018

The Centre stated that the GST cut will mean a hit of Rs.6.3K Crores Revenue as these changes come into effect from 27th July 2018, this week.

Contributor Content

Updated:July 24, 2018, 12:10 PM IST
facebookTwittergoogleskypewhatsapp
GST Update: From Brooms to Sanitary Napkins, Handicrafts to Consumer Electronics, Expect Cheaper Goods from July 27, 2018
Image for representation.
Loading...
The 28th GST Meeting has approved making Sanitary Napkins in the GST Exempt Bucket – a demand that was long pending ever since the Goods and Services Tax was launched in India last year in July. Besides the sanitary napkins, there are others items that have been put into the GST Exempt list along with a few more items for which the GST rate has been cut to a lower GST Slab rate. 17 items have been taken out of the 28% GST slab rate. The Centre stated that the GST cut will mean a hit of Rs.6.3K Crores Revenue as these changes come into effect from 27th July 2018, this week.

https://twitter.com/smritiirani/status/1020679407961280512
https://twitter.com/garima__sehgal/status/1021000398520438784
Items Now in the GST Exempt Bucket:

Sanitary Napkins – 0% GST from 12% Earlier

Fortified Milk – 0% GST from 12% Earlier

Rakhis – 0% GST from Multiple GST Rates Earlier

Marbles, stone and wood deities – 0% GST from Multiple GST Rates Earlier

Sal Leaves (pattal) – 0% GST from Multiple GST Rates Earlier

Raw Material used in Brooms – 0% GST from Multiple GST Rates Earlier

Supply of Services by an Old Age Home – 0% GST from 18% Earlier

https://twitter.com/transform_ind/status/1020689515382525952
17 Items moved to 18% GST Slab from 28% Earlier

TV (upto 25”)/Video games – 18% GST Slab from 28% Earlier

Refrigerators/Freezers – 18% GST Slab from 28% Earlier

Water Cooler/Water Heaters – 18% GST Slab from 28% Earlier

Juicer Mixer/Grinders – 18% GST Slab from 28% Earlier

Washing Machine – 18% GST Slab from 28% Earlier

Electric Iron – 18% GST Slab from 28% Earlier

Vacuum Cleaners – 18% GST Slab from 28% Earlier

Shavers/Hair Driers/Hair Curlers – 18% GST Slab from 28% Earlier

Leather Goods – 18% GST Slab from 28% Earlier

Scents/Toilet Spray – 18% GST Slab from 28% Earlier

Paints/Varnishers/Wall Putty – 18% GST Slab from 28% Earlier

Wooden Frames for Photos/Mirrors/Paintings – 18% GST Slab from 28% Earlier

Lithium Iron Batteries (Electric Vehicles) – 18% GST Slab from 28% Earlier

https://twitter.com/NamoApp/status/1020690701938388992

Special Purpose Vehicles/Work Trucks/Trailers – 18% GST Slab from 28% Earlier

Items moved to 12% Slab Rate from 18% Earlier

Bamboo Flooring – 12% GST Slab from 18% Earlier

Handicrafts – 12% GST Slab from 18% Earlier

Stone Endeavour – 12% GST Slab from 18% Earlier

Handbags/Jewellery Box – 12% GST Slab from 18% Earlier

Wooden Box for Paintings – 12% GST Slab from 18% Earlier

Glass Artware /Ornamental Framed Mirrors – 12% GST Slab from 18% Earlier

Copper Artware/Iron Artware – 12% GST Slab from 18% Earlier

Handmade Lamps – 12% GST Slab from 18% Earlier

Rubber Rollers – 12% GST Slab from 18% Earlier

Items moved to 5% Slab Rate

Ethanol – 5% GST Slab from 18% Earlier

Footwear (
e-Books – 5% GST Slab from 18% Earlier

Handmade Carpets – 5% GST Slab from 12% Earlier

Bio-Fuel Pellet – 5% GST Slab from Multiple rates Earlier

https://twitter.com/NamoApp/status/1020690701938388992
Other Important Decisions taken during the 28th GST Council Meeting July 2018:

For Small Traders - Exemption Limit increased from 10 lakh to 20 lakh in the states of Assam, Arunachal Pradesh, Himachal Pradesh, Meghalaya and Uttarakhand.

Businesses with turnover upto 5 Crores need to pay GST on a monthly basis, however, file GSTR on a quarterly basis.

Textile Industry will be able to claim 7% Input Tax Credit from 27th July 2018 onwards, which will cut effective GST from 12% to 5% now.

https://twitter.com/VasundharaBJP/status/1020720394666414082
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,136.40 0.58
Zee Entertain 462.70 -7.80
Yes Bank 179.00 -1.10
Sun Pharma 433.45 2.97
ICICI Bank 362.25 1.06
Company Price Change %Gain
ICICI Bank 362.35 1.22
HDFC 1,953.15 -0.31
Infosys 676.35 -2.48
Sun Pharma 433.10 2.98
Yes Bank 178.90 -1.21
Top Gainers
Company Price Change %Gain
Sun Pharma 433.45 2.97
Bajaj Finance 2,532.20 2.34
Power Grid Corp 196.35 1.97
M&M 770.95 1.93
JSW Steel 305.45 1.87
Company Price Change %Gain
Sun Pharma 433.10 2.98
Power Grid Corp 196.65 2.16
M&M 770.80 1.62
Vedanta 208.90 1.58
Asian Paints 1,354.45 1.47
Top Losers
Company Price Change %Gain
Zee Entertain 462.70 -7.80
UPL 743.65 -3.18
Infosys 676.60 -2.56
Tech Mahindra 709.00 -1.49
Wipro 335.05 -1.34
Company Price Change %Gain
Infosys 676.35 -2.48
Wipro 335.40 -1.29
Yes Bank 178.90 -1.21
ITC 278.00 -0.75
HUL 1,841.10 -0.56

Live TV

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