What became expensive and what became cheaper after the GST meeting - see here

What became expensive and what became cheaper after the GST meeting - see here

The GST Council has decided to withdraw the exemption on some items while increasing the rates on some items. After the decision, 5 per cent tax will be levied on packed wheat flour, papad, paneer, curd and buttermilk. Union Finance Minister Nirmala Sitharaman said that the suggestions for rationalization of rates by various groups have been accepted in the two-day meeting of the GST Council in Chandigarh. Due to which the tax rates have changed. These changes will be effective from July 18.

However, the GST Council has sent a report on casinos, online gaming and horse racing to the Group of Ministers (GoM) for reconsideration. The Finance Minister said that the GST Council will meet again in the first week of August to take a decision on this issue. Nirmala Sitharaman said that the next meeting of the GST Council will be held in Madurai, Tamil Nadu in August.

Finance Minister Nirmala Sitharaman said that no decision has been taken in the meeting of the GST Council to increase the GST compensation to the states. There was no discussion in the Council about the rationality of the rate. For this, the panel has been given an extension of 3 months.

Price of this item increased

• Products like packed fish, curd, paneer, lassi, honey, dried beans, soybean and peas will now attract 5 per cent GST.
• 18% GST will be levied on the charges levied by banks for issuance of cheques.
• Maps and charts, including atlas, will be subject to 12 per cent GST.
• 12 percent GST on hotel rooms costing less than Rs 1,000 per day.
• The hospital will charge 5 per cent GST on rooms rented above Rs 5,000.
• GST on printing/drawing ink, sharp knife, paper cutting knife and pencil sharpener, LED lamp, drawing and marking products has been increased to 18 per cent.
• Solar water heaters will now attract 12 per cent GST, which was 5 per cent earlier.
• Contracts issued for roads, bridges, railways, metros, waste treatment plants and graveyards will now be subject to 18 per cent GST. Till now it was 12 per cent.

These things will be cheap

• GST on ropeways and equipment connected with passenger transport and debris removal surgery was reduced from 12 per cent to 5 per cent.
• Trucks used to transport goods including fuel will now attract 12 per cent GST instead of 18 per cent.
• In some orthopedic line-ups, the GST has been reduced from 12 per cent to 5 per cent.