Goods and Services Tax – GST – By: – Sandeep Rawat – Dated:- 26-12-2018 Last Replied Date:- 27-12-2018 – Below are the Key updates of 31st GST Council Meeting 1.) GST Rates of 7 items reduced from 28% to 18% . Items include tyres, VCR, billiards & snookers and lithium batteries. 2.) GST Rate of 33 items have come down from 18% tax slab to 12% and 5% tax bracket as they are common man s consumption goods. These items include Third Party insurance Vehicle and Solar Power Systems 3.) Only 34 items will be taxed at 18% GST Rate or more 4.) All items except luxury goods would be taxed under 28% GST Rate 5.) The GST Council is also looking into introducing composition scheme for the real estate sector. A view on Real Estate sector will be ta
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