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  Business   Economy  07 Oct 2017  Find out what got cheaper after GST Council tweaked rates of items

Find out what got cheaper after GST Council tweaked rates of items

THE ASIAN AGE.
Published : Oct 7, 2017, 2:12 pm IST
Updated : Oct 7, 2017, 2:13 pm IST

The GST Council headed by Finance Minister Arun Jaitley tweaked the GST rates for 27 items.

From unbranded namkeen to ICDS food packets, the GST Council on Friday tweaked the rates for 27 items. Photo: PTI
 From unbranded namkeen to ICDS food packets, the GST Council on Friday tweaked the rates for 27 items. Photo: PTI

Mumbai: The GST Council, headed by Finance Minister Arun Jaitley on Friday announced a slew of relief measures for exporters, small and medium businesses and also tweaked the rates for a number of items.

Prime Minister Narendra Modi welcomed the changes put forth by the Council and said that GST has become "simpler".

Jaitley said the GST rates for 27 items had been changed. Here is a look at what got cheaper:

Description Present GST rate GST rate recommended by GST Council
Mango sliced dried 12 per cent 5 per cent
Khakra and plain chapati / roti 12 per cent 5 per cent
ICDS food packets 18 per cent 5 per cent
Loose, unbranded namkeen 12 per cent 5 per cent
Unbranded Ayurvedic, Unani, Siddha, Homeopathy medicines 12 per cent 5 per cent
Poster colour 28 per cent 18 per cent
Modelling paste for children amusement 28 per cent 18 per cent
Plastic waste, parings or scrap 18 per cent 5 per cent
Rubber  waste, parings or scrap  18 per cent 5 per cent
Hard Rubber waste or scrap 28 per cent 5 per cent
Paper waste or scrap 12 per cent 5 per cent
Duty credit scrips 5 per cent Nil
Sewing thread of man-made filaments, whether or not put up for retail sale 18 per cent 12 per cent
All synthetic filament yarn, such as nylon, polyester, acrylic, etc. 18 per cent  12 per cent
All artificial filament yarn, such as viscose rayon, Cuprammonium 18 per cent 12 per cent
Sewing thread of man-made staple fibres 18 per cent 12 per cent
Yarn of man-made staple fibres 18 per cent 12 per cent
Real zari 12 per cent 5 per cent
 All goods falling under heading 6802 (other than those of marble and granite or those which attract 12% GST) 28 per cent 18 per cent
 Fittings for loose-leaf binders or files, letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips (for example, for offices, upholstery, packaging), of base metal 28 per cent 18 per cent
Plain Shaft Bearing 8483 28 per cent 18 per cent
Parts suitable for use solely or principally with fixed Speed Diesel Engines of power not exceeding 15HP 28 per cent 18 per cent
 Parts suitable for use solely or principally with power driven pumps primarily designed for handling water, namely, centrifugal pumps (horizontal and vertical), deep tube-well turbine pumps, submersible pumps, axial flow and mixed flow vertical pumps 28 per cent 18 per cent
E-waste 28 per cent/ 18 per cent 5 per cent
Biomass briquettes 18 per cent 5 per cent

Tags: gst council, goods & services tax, gst rates
Location: India, Maharashtra, Mumbai (Bombay)