GST Council Lowers Rates on 66 items; Including Movie Tickets and Insulin

Shital Jibhe / 12 Jun 2017

GST Council Lowers Rates on 66 items; Including Movie Tickets and Insulin

The Goods and Services Tax Council has reduced tax rates of 66 items as against representations received for 133 items. An 18 % percent tax will be levied on cinema tickets costing Rs 100 or less has and the tickets costing above Rs 100 will have tax rate of 28%. The GST Council has slashed tax rate on computer printers to 18% from 28%.

The Goods and Services Tax Council has reduced tax rates of 66 items as against representations received for 133 items.
 
Some of the items in the list include cashew nuts, packaged foods such as sauces, pickles, agarbatti, school bags and some tractor components. The tax rate on agarbatti and insulin has been reduced to 5% from 12% respectively. Some of the tractor components will have reduced tax rate of 18% from 28%. Tax rates on cashew nuts has been reduced to 5% from 12%.
 
An 18 % percent tax will be levied on cinema tickets costing Rs 100 or less has and the tickets costing above Rs 100 will have tax rate of 28%. The GST Council has slashed tax rate on computer printers to 18% from 28%.

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