The 56th meeting of the GST Council was held in New Delhi on Wednesday. Many major changes have been made in the tax structure in this meeting. In this meeting chaired by Finance Minister Nirmala Sitharaman, it was decided that now there will be only two main GST slabs in the country- 5% and 18%. That is, slabs of 12% and 28% have been abolished.
A separate 40% slab has been created for harmful items. Let us know which things have become cheap.
What are cheap
Giving relief to the common man and middle class in the meeting, tax has been reduced on many everyday things.
- In zero tax slab: UHT milk, chhena, cheese, pizza bread, roti and paratha have been included.
- 5% in tax slab: Its like shampoo, soap, oil, salty, pasta, coffee and noodles are kept.
- 18% in tax slab: Car, bike, cement and TV have been included. Earlier, 28% tax was levied on them.
- Out of GST: 33 life saving medicines are completely out of the scope of tax, including 3 cancer medicines.
These stuff will be expensive
The new tax slab of 40% includes super luxury and harmful items. These include pan masala, cigarette, gutka, bidi, tobacco products and flavored carbonated drinks.
New rates will be implemented from 22 September
The Finance Minister of Uttar Pradesh informed that all the decisions taken in the meeting will be applicable from September 22. That is, many items will be found cheap from this date, while luxury and harmful products will become expensive.
States supported
Himachal Pradesh Minister Rajesh Dharmani said that the representatives of all the states supported the proposal to simplify the tax rate. Now effectively there will be only two tax slabs in the country – 5% and 18%.
Finance Minister Nirmala Sitharaman said this
After the meeting, Finance Minister Nirmala Sitharaman said, “These reforms have been made keeping in mind the common man. GST slabs have been reduced keeping in mind the interests of farmers, laborers and middle class. Health and agriculture sector will get great relief and labor -oriented industries will also be strengthened.”