IGST RATE 28% ON GOODS AS ON 27.07.2018
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 29-7-2018
Vide Notification No. 1/2017-Integrated Tax (Rate), dated 28th June, 2017 the Central Government notified in Schedule IV the list of goods that are covered under 28% tax regime. 229 goods have come under this tax regime. Since there is opposition from the stakeholders of this high rate of tax and considering the trade and industry the GST Council has reduced the tax rate from 28% to various rates in various notifications issued from time to time by the Government of India. The GST Council in the 28th meeting held on 21.07.2018 has also reduced the 28% tax rate to lesser tax rates.
Vide Notification No. 19/2018-Integrated Tax (Rate), dated 26.07.2018 the Central Government reduced tax rate from 28% to lower rates. The said notification comes into effect from 27.07.2018.
After incorporating the changes brought in the Notification No. 19/2018-Integrat
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
nes
115
8408
Compression-ignition internal combustion piston engines (diesel or semi-diesel engines)
116
8409
Parts suitable for use solely or principally with the engines of heading 8407 or 8408
117
8413
concrete pumps [8413 40 00], other rotary positive displacement pumps [8413 60], [other than hand pumps falling under tariff item 8413 11 10]
119
8415
Air-conditioning machines, comprising a motor-driven fan and elements for changing the temperature and humidity, including those machines in which the humidity cannot be separately regulated
122
8422
Dish washing machines, household [8422 11 00] and other [8422 19 00]
135
8483
Transmission shafts (including cam shafts and crank shafts) and cranks (excluding crankshaft for sewing machine); gear boxes and other speed changers, including torque converters; flywheels and pulleys, including pulley blocks; clutches and shaft couplings (including universal joint
139
8507
Electric accumulators, including separators therefor
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
4
8702
Motor vehicles for the transport of ten or more persons, including the driver [other than buses for use in public transport, which exclusively run on Bio-fuels
165
8703
Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 8702), including station wagons and racing cars [other than Cars for physically handicapped persons
166
8704
Motor vehicles for the transport of goods [other than Refrigerated motor vehicles]
168
8706
Chassis fitted with engines, for the motor vehicles of headings 8701 to 8705
169
8707
Bodies (including cabs), for the motor vehicles of headings 8701 to 8705
170
8708
Parts and accessories of the motor vehicles of headings 8701 to 8705 [other than specified parts of tractors]
173
8711
Motorcycles (including mopeds) and cycles fitted with an auxiliary motor, with or without side-cars; side-cars
174
8714
Parts and accessories of vehicles of headings 8711 and 871
176
8802
Aircraf
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =