As a Christmas surprise to the common man, the GST Council of India cut down the tax rates on 23 goods and services, including Television, monitor screens, power banks and several other things. The revised rates are likely to come into effect from January 1, 2019, Finance Minister Arun Jaitley announced this after the 31st meeting of Goods and Services Tax (GST) Council.
Of the 23 goods and services on which rates have been slashed, the tax rate on seven products in the 28 percent slab has been brought down. After this, merely 28 items remain in the highest 28 percent tax bracket.
Below-mentioned are the items on which GST that been lowered to 18% from 28%:
• Monitors and TV screens up to 32 inches
• Power Banks
• Transmission shafts and cranks
• Used tyres
• Power banks of lithium-ion batteries
• Digital cameras
• Video camera recorders
• Video game consoles
• Air conditioners
Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 percent.
Six items such as monitors and TVs up to 32 inches, digital cameras and video game consoles, were shifted from the tax slab of 28 per cent to 18 per cent. The new GST rates will take effect from January 1, 2019, Finance Ministry Arun Jaitley said.
Source : https://timesofindia.indiatimes.com/best-products/electronics/best-electronic-devices-to-be-bought-after-the-gst-rate-cut/articleshow/67256099.cms