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 â‚¹35,000 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%|
|LPG supplied to household domestic consumers, Raw materials and consumables needed for launch vehicles, satellites and payloads, Tamarind kernel powder, Mehendi paste in cones, Tailoring services, Transportation of petroleum crude and petroleum products, job-work services for manufacture of leather goods and footwear||18%||5%|
|Sugar boiled confectionery, Drinking water packed in 20 litre bottles, Biodiesel, Drip irrigation system including laterals & sprinklers, Mechanical sprayer, Fertilizer grade Phosphoric acid, Bamboo wood building joinery, Transportation of petroleum crude and petroleum products with ITC credit, Metro and monorail projects, Common effluent treatment plants services for treatment of effluents, Mining or exploration services of petroleum crude and natural gas and for drilling services in respect of the said goods||18%||12%|
|Old and used motor vehicles(other than medium & large cars and SUVs) with a condition than no ITC is availed||28%||12%|
|Old and used motor vehicles [medium and large cars and SUVs] with a condition that No ITC is availed, Public transport buses that run on biofuel, Services by way of admission to theme parks, water parks, joy rides, merry-go-rounds, go-karting and ballet||28%||18%|
|Small housekeeping service providers, notified under section 9 (5) of GST Act, who provide housekeeping service through ECO, without availing ITC||nil||5%|
|Actionable claim in the form of chance to win in betting and gambling including horse racing||nil||28%|
|Rice bran(other than de-oiled rice bran)||0%||5%|
|Cigarette filter rods||12%||18%|