At its 47th meeting in Chandigarh, the GST Council decided to oversee many things that could affect the pockets of the average person. The GST Council has decided to introduce GST for packaged foods. Unpackaged items, including cereals, are also subject to VAT at the same rate as packaged items. The decision was taken at the 47th session of the GST Council, chaired by Finance Minister Nirmala Sitharaman, where four state governments presented their recommendations.
The GST council’s decision-making on exemptions and reversals will begin on July 18 this year, Revenue Minister Tarun Bajaj told a news conference. Before making a statement, Sitharaman told reporters that he had accepted the government’s recommendation for exceptions and redress for the abolition of the GST Council.
Here are some of the products that became more expensive after the GST revision.
Packaged food: The GST panel has adopted a recommendation to bring packaged food to the GST section. “Until now, GST has been exempted for specific foods, cereals, etc., unless they are branded or no longer directly on the market. It is recommended to change the scope of the exemption to exclude packaged and pre-packaged foods.” packaged labeled retail packaging within the meaning of the Law on Legal Metrology, including pre-packaged, pre-labeled cottage cheese, lassi, and buttermilk, “said GST.Ried in a press release.
Issuance of a bank checkbook: 18% of GST will be collected from fees charged by banks for issuing checks (free as in accounting form), the GST board decided. The GST Council has also decided to reduce the price of hotel rooms below Rs 1,000 per day by 12% GST, in contrast to the current tax-free category.
Hospital beds: Over Rs 5,000 per day per patient charged by the hospital, room rentals (excluding ICUs) will be charged at a rate of 5% per room, excluding ITC.
The prices for LED lights, lamps, and LED lamps are set to record price increases as the GST Council recommends correcting the reverse structure of the duty from 12 percent to 18 percent.
Knives include bladed knives, paper knives, sharpeners and their blades, spoons, forks, spoons, skimmers, cake servers, and so on.
GST-powered pumps, primarily for water management, such as centrifugal pumps, deep well turbine pumps, submersible pumps, and bicycle pumps, have been increased from 12 percent to 18 percent. Machines for cleaning, sorting, or grading seeds, pulses; machinery used in the milling industry or for grain processing, etc.; Pawan chakki as an air-based atta chakki; and the wet grinder will now attract GST rates of 18%, up from 12 percent previously.
Here are the things that are cheaper after changing the GST rate.
Tax on cable car rides input tax credit services, the GST rate for carriage of goods and passengers by cable car is reduced from 18% to 5%.
The GST Council also reduced GST from 18 percent to 12 percent for leasing goods to operators that including fuel costs.
Orthopedic appliances: splints and other broken devices; artificial body parts; other devices worn, worn or inserted into the body to compensate for a defect or restriction; An intraocular lens can now attract a GST rate of 5%, down from 12% previously.
IGST for specific defence goods imported by private entities/suppliers, if the end-user is exempt from the GST defence force.
