The 56th GST Council meeting proposes a tax rate cut from 12% to 5% for sports goods, toys, and leather goods, and for footwear valued under ₹2,500.
he GST Council has cut tax rates on consumer electronics. This summary details how items like TVs, ACs, and dishwashers will become more affordable.
The GST Council proposes new rates for the paper sector. GST is eliminated on notebook paper, reduced on pulp, and increased on other paper types.
The GST Council has proposed reducing or removing GST on educational items. Erasers, notebooks, pencils, and maps would become tax-exempt.
GST rates on a variety of daily use products will be reduced from 12% and 18% to 5%. This includes household goods, personal care items, and bicycles.
GST rates on vehicles are being revised. Smaller cars, bikes, and commercial vehicles will see a reduction from 28% to 18%, while luxury vehicles increase.
GST Council has revised the GST rates for various goods within the textile sector in its 56th GST Council Meeting. A wide range of textile products, including sewing threads, synthetic yarns, felt, nonwovens, carpets, and technical textiles, have seen their tax rate reduced from 12% to 5%. Additionally, certain synthetic and artificial staple fibers and […]
The GST Council has recommended tax rate cuts for the health sector. Specific drugs, medical devices, and surgical goods will see reduced GST rates.
The GST Council has reduced taxes on renewable energy devices. Solar cookers, wind mills, and hydrogen vehicles will now be taxed at a lower 5% rate.
The GST Council has adjusted rates on various food items. UHT milk and Indian breads are now exempt, while chocolates and nuts have a reduced 5% rate.
