GST Council recommends GST rates reduction on several goods & for specified handicraft items
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:
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28% to 18%
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Paints and varnishes (including enamels and lacquers)
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Glaziers' putty, grafting putty, resin cements
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Refrigerators, freezers and other refrigerating or freezing equipment including water cooler, milk coolers, refrigerating equipment for leather industry, i
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umulated credit on account of inverted duty structure to fabric manufacturers:Fabrics attract GST at the rate of 5% subject to the condition that refund of accumulated 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,-
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18%12%/5% to Nil:
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Stone/Marble/Wood Deities
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Rakhi [other than that of precious or semi-precious material of chapter 71]
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Sanitary Napkins,
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Coir pith compost
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Sal Leaves siali leaves and their products and Sabai Rope
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PhoolBhariJhadoo [Raw material for Jhadoo]
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Khali dona.
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Circulation and commemorative coins, sold by Security Printing a
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pouches and purses; jewellery box
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Wooden frames for painting, photographs, mirrors etc
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Art ware of cork [including articles of sholapith]
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Stone art ware, stone inlay work
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Ornamental framed mirrors
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Glass statues [other than those of crystal]
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Glass art ware [ incl. pots, jars, votive, cask, cake cover, tulip bottle, vase ]
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Art ware of iron
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Art ware of brass, copper/ copper alloys, electro plated with nickel/silver
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Aluminium art ware
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Handcrafted lamps (including panchloga lamp)
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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)
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Ganjifa card
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12% to 5%:
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Handmade carpets and other handmade textile floor coverings (including namda/gabba)
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Handmade lace
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Hand-woven tapestries
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Hand-made braids and ornamental trimming in the piece
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Toran
VI Miscellaneous Chan
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