GST Council approves rate change for 29 goods, 53 categories of services
New Delhi, Jan 18 (IBNS): The Goods and Services Tax (GST) Council on Thursday approved a change in tax rates of 29 goods and 53 categories of services.
The Council, which is headed by Union Finance Minister Arun Jaitley, announced that the new rates will be effective from Jan 25.
There has been a cut in the GST rate on second-hand medium and large cars and SUVs from 28 percent to 18 percent.
The GST on other old and used motor vehicles came down to 12 percent.
The Council has stated that GST on LPG supplied for supply to household domestic consumers by private LPG distributors will be 5 percent now from 18 percent.
The GST rate on bio-fuel powered buses has been cut to 18 percent from the earlier 28 percent.
There has been a rate cut on diamonds and precious stones from 3 percent to 0.25 percent.
The Council announced that sugar boiled confectionary and drinking water packed in 20 litre bottles will amount to a GST of 12 percent, instead of 18 per cent earlier.
The Council also deliberated regarding simplifying the return of GST filing process..
Jaitley informed that Infosys chairman Nandan Nilekani will meet members to work on this.
Nilekani was present at the meeting.
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