GST rate cut: Here's what gets cheaper from November 15

Discussion in 'Banking & finance' started by Jayakrishnan96, Nov 15, 2017.

  1. Jayakrishnan96

    Jayakrishnan96 New Member

    Nov 15, 2017
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    The GST Council has overhauled the new tax regime reducing the 28 percent tax levied on 178 items to 18 percent or lesser. Most important of them all, the Council decided to slash the rate on AC and non-AC restaurants to 5 percent from the current 18 percent slab. The new rates will be applicable effective November 15.
    The move will be a big relief for consumers who might have felt the pinch on their day-t0-day shopping. Here are some of the items that will see a lower tax rate.

    GST rate cut from 28% to 18%
    1) Liquid soaps

    2) Cosmetics and deodorants

    GST reducing to 17% from 21% on
    3) Detergents

    4) Razors
    5) After-shave products
    6) Grooming products
    7) Chocolate

    GST reduced from 18% to 12%
    8) Diabetic food
    9) Medicinal grade oxygen

    10) Spectacle frames
    GST rate cut from 5% to 0
    11) Dried vegetables

    12) Sweet Potatoes
    13) Dried or frozen fish
    14) Coconut shell

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