New Delhi, June 12 (KNN) With just few days left for the Goods & Services Tax (GST) to be rolled out in the country, the GST Council has cut rates for 66 out of 133 recommended items which are mostly produced by the MSME sector.
At its meeting on Sunday in the Capital, the council revised rates on 66 items such as pickles, sauces, fruit preserves, insulin, cashew nuts, insulin, school bags, colouring books, notebooks, printers, cutlery, agarbattis and cinema tickets, following representations from industry.
"After considering recommendations of fitment committee, rates are being reduced in the case of 66 items," FM Arun Jaitley, who is also the chairman of the GST Council, told reporters.
There are few items for which the rates have been revised to zero percent. These items are - Bones and horn cores, bone grist, bone meal, etc.; hoof meal, horn meal, etc; Cereal grains hulled; Palmyra jiggery; Salt, all types; Dicalcium phosphate (DCP) of animal feed grade conforming to IS specification No.5470 : 2002; Human hair, dressed, thinned, bleached or otherwise worked; Muddhas made of sarkanda and phool bahari jhadoo.
The items with NIL rates are - Kajal [other than kajal pencil sticks]; and Children’s' picture, drawing or colouring books.
The items which attract 18 per cent tax rates are - Curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings; Kajal pencil sticks; Dental wax; Plastic Tarpaulin; School satchels and bags other than of leather or composition leather; Toilet cases; Hand bags and shopping bags of artificial plastic material [4202 22 10], of cotton [4202 22 20], of jute [4202 22 30], vanity bags etc.