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Textile News   >     23-11-2017 - Thursday

  • 132 days after rollout, GST cut on over 210 items – 180 of them in top 28% slab
  • GUWAHATI: Making the biggest change in the four-month-old goods and services tax regime, the GST Council on Friday moved 80 per cent of items in the top 28 per cent tax bracket to lower rates. Starting November 15, eating out could cost up to 13 per cent less than before (GST rate cut from 18 per cent to 5 per cent) and a whole host of consumer products like shampoo, deodorant, chocolates, fans, furniture and sanitary fittings should get cheaper by up to 10 per cent or more.
  • Only 50 products, classified as sin or luxury items like tobacco products, aerated drinks and automobiles, will be in the top GST rate bracket of 28 per cent. When GST was rolled out on July 1, more than 250 items were in the highest tax bracket. That's a reduction of 80 per cent in the number of items in just 132 days. The total tax on several products still in the highest slab will be higher than 28 per cent since they also attract a cess.
  • Council slashes rates of over 200 items, cuts tax for restaurants as part of GST overhauling   

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