Monday, 13 November 2017

Great relief on GST, from November 15 this 211 items will be cheaper

The government has decided to give relief to the consumers, who are against the 28 per cent GST against the lifting of lifesaving goods. At the GST Council meeting held at Guwahati on Friday, it decided to include 178 items of common consumption from detergent to chocolate and 28% slip of GST in 18% slab.
Addressing reporters after the GST meeting in Guwahati in Assam, Union Finance Minister Arun Jaitley said that as the country's economy is strengthening, the 28 percent slab of GST has removed a large number of commodities. A total of 228 items of 28 percent of GST were included in the slab. The council has now correctly classified them. Jaitley said that 178 items in the slab of 28 percent were included in the 18 percent slab. This amendment will be effective from November 15th.

Jaitley said that 13 items moved from 18 percent slab to 12 percent, 6 percent moved from 18 percent slab to 5 percent, 8 items moved from 12 percent slab to 5 percent and 6 items moved from 5 percent slab to Neil GST. Jaitley said that 5 percent of all the country's reservists will be GST. ITC benefits will not be given to restaurants. In addition to input tax credits from the star hotel status, 18 percent GST will be levied while five percent of GST will be levied without input tax credit from lower category restaurants.