The new rates of Goods and Services Tax-GST have come into effect from today on many goods. Some items will attract higher GST while on some items the GST rate has been reduced. Exemption in GST has been withdrawn on many items. The decision to change the GST rates was taken in the 47th meeting of the GST Council in Chandigarh last month.
The GST rate has been reduced from 12 per cent to five per cent for carriage of goods and for ropeway passengers. 5% rebate in GST will be given on electric vehicles. Passengers in North Eastern states and at Bagdogra airport will get GST exemption for traveling in economy class only.
Banks will now charge 18% GST as check issuance fee. A tax of 12 per cent will be levied for hotel rooms up to Rs 1,000 per day. Solar water heater will now be charged 12 per cent GST instead of five per cent GST. GST on e-waste has been increased from 5 per cent to 18 per cent.
The Finance Ministry has said that unbranded food items including cereals, pulses and 25 kg of flour will not attract any GST.
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