GST Rates: Movie tickets, insulin, school bags and more get cheaper

With the Goods and Services Tax (GST) set to roll out on July 1, the

GST Council

concluded its 16th meeting on Sunday. Speaking at a press conference after the meeting,

Finance Minister

Arun Jaitley said that the rates for as many as 66 items have been further revised.

He said there were recommendations for revision for 133 items.

However the GST rate on sanitary napkins was not tweaked despite a major uproar over 12 per cent being taxed on what is an essential need for women.

Here are some of the major items on which the tax rates were pruned:

1) Movie Tickets
Amid representations from the regional film industry, the GST Council has decided to reduce the tax on movie tickets below Rs 100 to 18 per cent from the previously fixed rate of 28 per cent. Tickets price above Rs 100, however stay at the same rate.

2) Insulin

The tax rate on insulin has been brought down from 12 per cent to 5 per cent. In a further boost to health industry, dental wax has been revised from 28per cent to 8per cent.

3) Packaged food

Items like chutney, murabba, pickle, ketchup, toppings, instant food mixes etc. have come down from 18 per cent to 12 per cent.

4) School Items

School bills for parents might get cheaper as the tax rates for school bags have been revised from 28 per cent to 18 per cent, exercise books from 18 per cent to 12 per cent and coloring books from 12 per cent to nil.

5) Printers

The tax rate on computer printers has been brought down from 28 per cent to 18 per cent.

6) Cutlery

There is reason for cheer for those who fancy fine dining and the restaurant industry as their expenses on cutlery might come down. The tax rate has been revised from 18 per cent to 12 per cent.

7) Tractor components

With the agriculture sector already anticipating a good monsoon, their expenses might come further down as tractors might get cheaper. The tax on tractor components have come down from 28 per cent to 18 per cent.

8) Plastic items

The plastic industry has been rooting for a lower GST rate. Subsequently, the rates for plastic beads has been revised from 28 per cent to 18 per cent and plastic tarpaulin from 28 per cent to 18 per cent.

9) Agarbatti

The agarbatti (incense sticks) industry had also been asking for a rate cut. The rate has been revised from 12 per cent to 5 per cent.

10) Cashewnuts
Your evening snack of salted cashews might get cheaper with the tax rate coming down from 12 per cent to 5 per cent.

The GST Council will meet next on June 18 to finalise on rates for lottery tickets, e-way bills etc.


















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