50th GST Council assembly: Union Finance Minister Nirmala Sitharaman on Tuesday introduced a number of key choices taken within the 50th Goods and Services Tax (GST) Council assembly. The council made numerous adjustments within the current GST slabs for varied items and providers. Here’s the whole list of what’s set to change into costlier and cheaper after the important thing assembly.
50th GST Council assembly | What will change into costlier and cheaper
- Cancer-related medication, medicines for uncommon ailments and meals merchandise for particular medical functions will now be exempted from GST.
- GST diminished on meals served in cinema halls to five per cent from 18 per cent.
- Exemption will be provided on GST for satellite tv for pc launch providers offered by personal organisations.
- Online gaming, horse racing and casinos will now be taxed at 28 per cent (all three actions) and so they will be taxed on full face worth.
- GST charges on raw/unfried extruded snack pallets introduced down from 18 per cent to five per cent.
- On fish-soluble paste, charges have been introduced down to five per cent from 18 per cent.
- Rates on imitation zari threads introduced down to five per cent from 12 per cent.
At the start of the assembly happening within the nationwide capital, Nirmala Sitharaman launched a brief movie titled ‘GST Council – 50 steps in direction of a journey’.
In 49 conferences held to date, the Council has taken roughly 1,500 choices within the spirit of co-operative federalism, the workplace of Nirmala Sitharaman tweeted.
“The 50th meeting is a milestone which indicates success of cooperative federalism and establishment of a good & simple tax regime,” the tweet mentioned.
Sitharaman additionally launched a Special Cover and customised ‘myStamp’, which was offered to her by the Chief Post Master General, Delhi Circle India Post Office, the finance ministry tweeted.
The GST Council is chaired by the Union Finance Minister and includes ministers from each state and Union Territory.
ALSO READ | 50th GST council assembly: Setback for on-line gaming, horse racing, casinos; to draw 28% tax
