32-inch TVs, Video Games, Movie Tickets to Get Cheaper as GST Council Cuts Tax on 40 Items
By Desk FnF | PUBLISHED: 22, Dec 2018, 16:23 pm IST | UPDATED: 22, Dec 2018, 16:23 pm IST
New Delhi: The 31st GST Council meeting on Saturday decided to move 33 items from the 18 percent tax slab to 12 percent and 5 percent while seven items were moved from 28 percent slab to 18 percent bracket. Among the items that will get cheaper are 32-inch LED TVs and video games.
The announcement was made by Puducherry CM Narayanasamy shortly after the GST Council meeting ended.
"The original demand by Congress that all goods should come down to 18 percent and below except luxury items has almost been agreed by the government. Except 34 items all other will come down to 18 percent and below," said Narayanasamy said.
The state’s finance minister also said that seven items have been moved from the 28 percent slab to 18 percent.
The council met on Saturday amid heightened expectation of rate cuts following Prime Minister Narendra Modi’s statement this week that '99 per cent things' would soon attract sub-18 per cent GST.
Over 1,200 goods and services fall into four broad tax slabs — 5, 12, 18 and 28 percent. Currently, there are close to 40 goods and services in the 28 percent slab, which comprises demerit and luxury goods, among other items.
If implemented, the move will be viewed in political circles as an attempt to woo the middle class months ahead of 2019 Lok Sabha elections.