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  • GST Council reduces tax rates of 66 items: Insulins, cashew nuts, school bags to get cheaper

    Jun 11th, 2017

    Finance Minister Arun Jaitley today said that the rates of 66 items have been reduced after the 16th GST Council meeting in New Delhi.

    Jaitley said that rates on goods decided today would make the goods cheaper for common man.

    "After considering the recommendations, the GST has reduced tax level in 66 out of 133 items," Finance Minister Arun Jaitley said addressing the press.

    Jaitley also said that the next GST Council meeting would take place next Sunday.

    These are the changes made in the tax levels of several articles by the GST council:

    • GST on cashew nuts reduced from 12 per cent to 5 per cent
    • GST on pickles, chutney, sauces, instant food mixes were charged at 18 per cent and are now reduced to 12 per cent
    • GST on kajal slashed from 28 per cent to 18 per cent
    • GST on insulin reduced from 12 per cent to 5 per cent
    • GST on school bags reduced from 28 per cent to 18 per cent
    • GST on children's colouring and drawing books revised from 12 per cent to nil
    • GST on cutlery reduced from 18 per cent to 12 per cent
    • GST on some tractor components will now attract 18 per cent compared to 28 per cent under previous arrangement
    • GST on computer printers reduced from 28 per cent to 18 per cent
    • GST rate of 28 per cent will be maintained for all cinema tickets above ` 100 while for tickets below ` 100, it will be reduced to 18 per cent.


    Source: http://www.businesstoday.in