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
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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 (Rs.1000) – 5% GST Slab from 18% Earlier
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
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