Summary of 23rd GST Council
The GST Council has reviewed the tax rates, returns filing cycle, Late filing fees and much more on 10th Nov 2017, bringing in some relaxation to businessmen, traders, and consumers.
All things considered, tax rates on 177 items are brought down to 18% from 28% to provide relief to consumers and businesses.
- Many of the items and services which were earlier taxed at 28% now attracts the tax of 18% only. The list includes wire and cables, Furniture, mattress trunk, suitcase, detergents, shampoos, hair cream, hair dyes, makeup, fans, lamp, rubber tubes and microscope. Chewing gum, chocolates, coffee, custard powder, marble and granite, dental hygiene products, polishes and creams, sanitary ware, leather clothing, artificial fur, wigs, cookers, stoves, after-shave, deodorant, detergent and washing powder, razors and blades, cutlery, storage water heater, batteries, goggles, wrist watches.