GST Rate Update: After the 47th GST Council meeting, the Central Government has decided to revise the Goods and Services Tax on several essential goods and services. As per the GST Council’s decision, the prices of some essential items will go up from next Monday and you will have to pay more from your pocket. On the other hand, the prices of some other commodities will also decrease from the same day.
What will be more expensive ?
- LED lights, lamps and fixtures – 18 percent
- Removal and marking of tools – 18 percent
- Solar water heater – 12 percent
- Prepared or raw leather / chamois leather / composition leather – 12 percent
- Bank checks – 18 percent
- Maps, atlases, topographical plans, printed globes – 12 percent
- Hotel accommodation up to Rs 1,000 per day will attract 12 per cent tax
- Hospital room fare (excluding ICU) per patient per day Rs. 5,000 will be taxed up to 5 per cent of the amount charged for the rooms without ITC.
- Contracts for roads, bridges, railways, metros, sewage treatment plants, crematoriums etc. – 18 percent
- Electric pumps like centrifugal, deep tube well turbine and submersible pumps, cycle pumps – 18 percent
- machines for cleaning, sorting, grading seeds, cereals, pulses; Machinery used in the milling industry; Windmill – 18 percent
- Machines for cleaning and sorting milk and dairies, eggs – 18 percent
- Printer ink – 18 percent
- Knives with cutting blades, paper knives, pencil sharpeners and blades, spoons, forks ladles, skimmers, cake-servers – 18 percent
Here’s what will be cheap from next week:
- The transport services of goods and travellers through ropeway will get cheaper as the GST rates have been slashed from 18 per cent to 5 per cent
- Furthermore, the renting of goods carriage with operators will attract only 12 per cent GST, down from earlier 18 per cent