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
\nGST rates have been recommended to be brought down to Nil on Sanitary Napkins & Rakhi & more Goods
\nGST Council recommends for allowing refund to fabrics on account of inverted duty structure
\nRate change made in respect of footwear
\n 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 .
\nI. GST rates reduction on 28% items:
\n *
\n28% to 18%
\n *
\nPaints and varnishes (including enamels and lacquers)
\n *
\nGlaziers' putty, grafting putty, resin cements
\n *
\nRefrigerators, freezers and other refrigerating or freezing equipment including water cooler, milk coolers, refrigerating equipment for leather industry, i<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 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. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n pouches and purses; jewellery box = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST Council recommends GST rates reduction on several goods & for specified handicraft items GSTDated:- 21-7-2018GST 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 … Continue reading “GST Council recommends GST rates reduction on several goods & for specified handicraft items”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12731","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12731"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/12731\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nIII. GST rates have been recommended to be brought down from,-
\n *
\n18%12%\/5% to Nil:
\n *
\nStone\/Marble\/Wood Deities
\n *
\nRakhi [other than that of precious or semi-precious material of chapter 71]
\n *
\nSanitary Napkins,
\n *
\nCoir pith compost
\n *
\nSal Leaves siali leaves and their products and Sabai Rope
\n *
\nPhoolBhariJhadoo [Raw material for Jhadoo]
\n *
\nKhali dona.
\n *
\nCirculation and commemorative coins, sold by Security Printing a<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n *
\nWooden frames for painting, photographs, mirrors etc
\n *
\nArt ware of cork [including articles of sholapith]
\n *
\nStone art ware, stone inlay work
\n *
\nOrnamental framed mirrors
\n *
\nGlass statues [other than those of crystal]
\n *
\nGlass art ware [ incl. pots, jars, votive, cask, cake cover, tulip bottle, vase ]
\n *
\nArt ware of iron
\n *
\nArt ware of brass, copper\/ copper alloys, electro plated with nickel\/silver
\n *
\nAluminium art ware
\n *
\nHandcrafted lamps (including panchloga lamp)
\n *
\nWorked 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)
\n *
\nGanjifa card
\n *
\n12% to 5%:
\n *
\nHandmade carpets and other handmade textile floor coverings (including namda\/gabba)
\n *
\nHandmade lace
\n *
\nHand-woven tapestries
\n *
\nHand-made braids and ornamental trimming in the piece
\n *
\nToran
\nVI Miscellaneous Chan<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n