Revised GST Rates – with effect from 25 January 2018

The 25th GST Council was held on 18 January 2018, and the rates of 29 goods and 53 services were reduced to lower tax slabs. These revised rates came into effect on 25 January. Other highlights of the panel included the decision to divide between the Centre and State, collections worth ₹35,000 crores from the Integrated Goods and Services Tax. The proposal to bring petroleum and diesel products under the ambit of GST is likely to be considered in the next meeting.

Here are the key goods and services that have been lowered or raised into new GST slabs.

Good/Service Present GST Rates Revised GST Rates
Diamonds & precious stones 3% 0.25%
Articles of straw, esparto or other plaiting materials, Velvet fabric 12% 5%

Leave a Reply

Your email address will not be published. Required fields are marked *