GST Latest News India: GST Rate Changes you should know- 28th GST Council Updates

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28th GST council has turned out to be a reliever for taxpayers. Here’s what’s changing hereafter:

  1. Sanitary Napkins are exempted from GST going forward: Woo-hoo! Ladies voice seems to have heard loud enough.
  2. No decision on 1% sugar cess: Perhaps the council needs more time to figure this out.
  3. GST on hotels would now be on actual tariff & not declared tariff.
  4. Ethanol for Oil Marketing Companies now at 5% vs 18% earlier.
  5. 5% GST ceiling on footwear raised from Rs 500 to Rs 1000: You can reach for some higher priced footwear without having to bear heavy taxes.
  6. GST on paints & varnishes, wall putty cut from 28% to 18%. GST on bamboo flooring reduced to 12%: Time for some house renovation.
  7. GST on all leather items cut from 28% to 18%: Now that’s a green signal to restart your leather shopping.
  8. GST on special purpose vehicles, work truck, trailer cut from 28% to 18%:  Now, that’s a real relief to many people out there.
  9. Reverse Charge Mechanism under section 9(4) to remain suspended up to 30/09/2019 i.e. further extended for one year.
  10. GST on consumer electronics – TV (up to 27″), Washing Machine, Refrigerator, mixer, juicer, grinder cut from 28% to 18%: Necessities gets affordable.vyapar, accounting, GST

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