GST Meeting..! Things that will affect people directly..!!
After the two-day GST meeting chaired by Union Finance minister Nirmala Sitharaman, taxes on many goods and services have been increased and the already announced tax breaks have been removed. The GST Council has issued an official notification that all these new tax changes will be implemented from July 18. Finance minister Nirmala Sitharaman has said the hike in GST rates is aimed at compensating for "inefficiencies" in the value chain.
The tax hike will force people to pay more than the current inflation rate, making ordinary people more vulnerable. Finance minister Nirmala Sitharaman said. Union Finance minister Nirmala Sitharaman has said that the next meeting of the GST Council will be held in Madurai. It has been decided to hold the next two-day GST Council meeting in madurai after accepting the invitation of tamil Nadu Finance minister Palanivel Thiagarajan.
GST tax change ..!
The first of the following items is the old one, the second is the new tax rate.
knitted textiles - 5% - 12%
E-Waste - 5% - 18%
Printing, writing or drawing ink - 12% - 18%
Knives, spoons, Forks - 12% - 18%
Power-operated pumps - 12% - 18%
Eggs / fruit / Milk machines - 12% - 18%
For LED lights / circuits - 12% - 18%
Solar Water Heater - 5% - 12%
Drawing / Marking Tools - 12% - 18%
Manufactured / Finished Leather - 5% - 12%
Leather / Clay Jobs - 5% - 12%
Road / rail Contracts - 12% - 18%
Ortho Equipment - 12% - 5%
Tetra Bag - 12% - 18%
Cut and Polished Diamonds - 0.25% - 1.50%
Ropeway Transport by (Ropeway) - 18% - 5%
Rental of trucks with input tax - 18% - 12%
Removal of tax deductions cheque - NIL - 18%
Map and Chart - NIL - 12%
Petroleum / Coal Methane - 5% - 12%
Science & Tech Tools - 5% - Applied Rate
Hotel - 12 percent GST for rooms rented up to Rs. 1000 per day
Hospital room rent - GST levied on non-ICU rooms above Rs. 5000 / - per day.
5 percent tax on electric vehicles whether sold with or without batteries. No tax on ART and IVF services. No GST on the sewage treatment works. All ice cream parlors have a flat 18 percent GST. No GST on mangoes or raw mangoes, but anything other than fruit Mangoes also has 12 percent GST.
No decision on a proposal to levy a 28 percent tax on online gaming, horse racing, or casino. No change in GST tax slab on cryptocurrency. No decision on a plan to set up a GST tribunal.
click and follow Indiaherald WhatsApp channel