Saturday, December 22, 2018

Current Affairs 22nd December 2018: Daily GK Update | New GST Rates Slab

New GST Rates
Delhi: 31st GST Council meeting begins at Vigyan Bhavan under the chairmanship of Finance Minister Arun Jaitley

Union Finance Minister Arun Jaitley: 28% slab rate is only applicable on 34 items now. These are luxury items.

Finance Minister Arun Jaitley: Monitors and Television screens, Tyres, Power banks of Lithium-ion batteries have brought down from 28% to 18% slab. Accessories for carriages for specially abled persons have been brought down to 5%.

Finance Minister Arun Jaitley on the decisions taken in GST Council meet: Movie tickets up to Rs 100 brought down to 12% and above Rs 100 has been brought down to 18% from 28%.

Finance Minister Arun Jaitley on the decisions taken in GST Council meet: There is no GST cut on cement and auto parts.

Finance Minister Arun Jaitley: The services supplied by the banks to Jan-Dhan account holders will be exempted from GST.

The 31st GST Council meeting has approved proposal to form a 7-Member Group of Ministers to study the revenue trend, including analysing the reasons for structural patterns affecting the revenue collection in some of the states.

The new GST rates will be effective from 1st January 2019

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