The 28th meeting of the Goods and Services Tax (GST) Council concluded Saturday with members approving rate cuts for 88 consumer-centric items and exempting sanitary pads, a long-standing demand. The decision came as a shot in the arm for the fast moving consumer goods (FMCG) sector whose market suffered after demonetisation. “Today’s decisions of the GST Council were guided by simplification, rationalisation… Every state wanted that the rates on these items be lowered for benefit of middle-income households… It has also been decided that the GST Council will rise above revenue consideration and focus more on job creation and economic growth,” Finance Minister Piyush Goyal said after chairing the GST Council meeting. GST rates revised: Full list 1) Besides FMCG products, Electronic appliances such as refrigerators, washing machines, small screen televisions, vacuum cleaners water heaters, hair dryers, hair trimmers, water coolers saw a reduction in tax. pic.twitter.com/2jLfUhlhDK — Ministry of Finance (@FinMinIndia) July 21, 2018 2) The tax on paints and varnishes was 28 per cent to 18 per cent. pic.twitter.com/O3nLesX0CM — Ministry of Finance (@FinMinIndia) July 21, 2018 3) With an eye on promoting electric vehicles and reducing vehicular emissions, the GST Council also decided to reduce the tax on lithium-ion batteries to 18 per cent. pic.twitter.com/Z2S90s8LDQ — Ministry of Finance (@FinMinIndia) July 21, 2018 4) The GST council decided to cut the tax on e-books from 18 per cent to five per cent. pic.twitter.com/vXgkHMaVns — Ministry of Finance (@FinMinIndia) July 21, 2018 5) It further decided to exempt taxes on marble-idols stating empowerment to artisans and boosting the marble and stone industry. pic.twitter.com/bIftIa0Qxi — Ministry of Finance (@FinMinIndia) July 21, 2018 6) In a move that would benefit farmers, the GST council slashed the tax rate from 18 per cent to five per cent on bio-fuel pellets and ethanol. The tax on hand-held rollers was also reduced from 18 per cent to 12 per cent. pic.twitter.com/2GLJfHsplI — Ministry of Finance (@FinMinIndia) July 21, 2018 Additionally, the government decided to provide input tax credit for the fabrics industry. pic.twitter.com/Olsm7EOk1z — Ministry of Finance (@FinMinIndia) July 21, 2018 The council has exempted old age homes from the ambit of GST for the services they provide to senior citizens. pic.twitter.com/UkULrLnK1L — Ministry of Finance (@FinMinIndia) July 21, 2018
