GST Council in its 31st Council meeting held today at New Delhi decided to reduce tax rates on various items such as:
From 28% to 18%
- Pulleys, transmission shafts and cranks, gear boxes etc., falling under HS Code 8483
-
Monitors and TVs of upto screen size of 32 inches
-
Re-treaded or used pneumatic tyres of rubber;
- Power banks of lithium ion batteries. Lithium ion batteries are already at 18%. This will bring parity in GST rate of power bank and lithium ion battery.
- Digital cameras and video camera recorders
- Video game consoles and other games and sports requisites falling under HS code 9504
From 18% to 12%
- Cork roughly squared or debagge.
- Articles of natural cork
- Agglomerated cork
From 12% to 5%
- Natural cork
- Walking Stick
- Fly ash Blocks
To read complete changes made in tax rate, PIB Rate change
