Goods and Services Tax – GST – Dated:- 21-7-2018 – GST COUNCIL RECOMMENDS GST RATES REDUCTION ON SEVERAL GOODS & for specified handicraft items GST rates have been recommended to be brought down to Nil on Sanitary Napkins & Rakhi & more Goods GST Council recommends for allowing refund to fabrics on account of inverted duty structure Rate change made in respect of footwear The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions on GST Rate on Goods . I. GST rates reduction on 28% items: 28% to 18% Paints and varnishes (including enamels and lacquers) Glaziers putty, grafting putty, resin cements Refrigerators, freezers and other refrigerating or freezing equipment including water cooler, milk coolers, refrigerating equipment for leather industry, ice cream freezer etc. Washing machines. Lithium-ion batteries Vacuum cleaners Domestic electri
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ated ITC on account of inversion will not be allowed. However, considering the difficulty faced by the Fabric sector on account of this condition, the GST Council has recommended for allowing refund to fabrics on account of inverted duty structure. The refund of accumulated ITC shall be allowed only with the prospective effect on the purchases made after the notification is issued. III. GST rates have been recommended to be brought down from,- 18%12%/5% to Nil: Stone/Marble/Wood Deities Rakhi [other than that of precious or semi-precious material of chapter 71] Sanitary Napkins, Coir pith compost Sal Leaves siali leaves and their products and Sabai Rope PhoolBhariJhadoo [Raw material for Jhadoo] Khali dona. Circulation and commemorative coins, sold by Security Printing and Minting Corporation of India Ltd [SPMCIL] to Ministry of Finance. 12% to 5%: Chenille fabrics and other fabrics under heading 5801 Handloom dari Phosphoric acid (fertilizer grade only). Knitted cap/topi having retail
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Art ware of iron Art ware of brass, copper/ copper alloys, electro plated with nickel/silver Aluminium art ware Handcrafted lamps (including panchloga lamp) Worked vegetable or mineral carving, articles thereof, articles of wax, of stearin, of natural gums or natural resins or of modelling pastes etc, (including articles of lac, shellac) Ganjifa card 12% to 5%: Handmade carpets and other handmade textile floor coverings (including namda/gabba) Handmade lace Hand-woven tapestries Hand-made braids and ornamental trimming in the piece Toran VI Miscellaneous Change relating to valuation of a supply: IGST @5% on Pool Issue Price (PIP) of Urea imported on Govt. account for direct agriculture use, instead of assessable value plus custom duty. Exemption from Compensation cess to Coal rejects from washery [arising out of cess paid coal on which ITC has not been taken]. VII. Clarifications/amendments as regards applicability of GST rate in respect of certain goods recommended by GST Council whic
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