New Delhi16 minutes ago
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The 56th meeting of the GST Council will be held in Delhi from 3 to 4 September. The meeting will be chaired by Finance Minister Nirmala Sitharaman. The final decision in cases related to GST takes the GST Council. The council consists of finance ministers of all states and union territories as members.
The GST Council meeting may have a decision to reduce the GST slab. The meeting may approve the abolition of 12% and 28% slabs of GST. If this happens, only two slabs of GST will be 5% and 18%. Luxury items will come under 40%. Currently 4 slabs of GST are 5%, 12%, 18%, and 28%.
GST Council’s group of ministers has been approved Earlier on Thursday, a group of ministers of GST Council (GOM) had approved the abolition of 12% and 28% slabs of GST. On the GOM meeting, its convenor Emperor Chaudhary said- We have supported the central government’s proposal, with 12% and 28% GST slab. It has been sent to the GST Council which will take a decision on it.
PM Modi announced GST reforms on Independence Day Prime Minister Narendra Modi had told the Red Fort on Independence Day that this year Diwali is going to get a big gift. We are bringing Next Generation GST Reforms. Will reduce tax for ordinary people, everyday things will become cheaper, people will benefit greatly.
Prime Minister Narendra Modi announced GST Reforms on Independence Day.
These goods will be cheap: Tax on these will be 12% to 5%
According to the expert, dried fried nuts, branded salty, tooth powder, toothpaste, soap, hair oil, normal antibiotics, painkillers, processed food, snacks, frozen vegetables, condensed milk, some mobiles, some computers, sewing machines, pressure cookers, gays will be cheaper.
Apart from these, no electricity water filters, electric iron, vacuum cleaner, readymade clothes of more than 1000 rupees, shoes with a range of 500-1000 rupees, most vaccines, HIV/TB diagnostic kits, bicycles, utensils will also be taxed.
Products such as geometry boxes, maps, globes, glazed tiles, pre-fabricated building, vending machines, public transport vehicles, agricultural machinery, solar water heater also come in 12% tax slab. After approval of two slabs, they will be charged 5% tax.
These goods will also be cheap: Tax on these will be 28% to 18% Cement, beauty products, chocolate, ready-mix concrete, TV, fridge, washing machine, AC, dishwasher, private aircraft, protein concentrates, sugar syrup, coffee concentrates, plastic products, rubber tires, aluminum foil, temporary glass, printers, razor, manner kitted, dental kitte, dental kitte, dental kitte.
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