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Communist Party of India leader D Raja on Friday urged Tamil Nadu Governor Rajendra Arlekar to invite actor-politician Vijay’s Tamilaga Vettri Kazhagam to form the government as the single-largest party in the Assembly and allow it to prove its majority on the floor of the House, PTI reported
Milk, AC, life insurance and others to become cheaper from Sept 22 | Details
The Indian government on Wednesday announced a rate cut for the Goods and Services Tax (GST) on hundreds of goods, ranging from cars, washing machines, to small consumer goods like toothbrushes and toothpastes.
This major tax overhaul, which will be implemented from September 22, will replace the existing tiers of 5,12,18, and 28 per cent with a two-slab system - 5 per cent and 18 per cent. Follow for live updates on GST news
Life insurance: All individual life insurance policies have been exempted from GST, including term life, ULIP or endowment policies, making insurance affordable for the common man, aiming to increase the insurance coverage in the country.
Common items: GST on common items of daily use, such as hair oil, toilet soap bars, shampoos, toothbrushes, toothpaste, Bicycles, Tableware, kitchenware, and other household articles, have been reduced 18% or 12% to 5%
Milk items and roti: GST from 5% has been changed to NIL on Ultra-High Temperature (UHT) milk, prepackaged and labelled chena or paneer, Chapati or roti, paratha and parotta
Packaged food items: GST has been reduced from 12% or 18% to 5% on nearly all food items, including packaged namkeens, bhujia, sauces, pasta, instant noodles, chocolates, coffee, preserved meat, cornflakes, butter, ghee, and more.
Also read: GST on popcorn: The 'salted vs caramel' debate is finally put to rest with new GST rates
AC and small cars: 18% GST will now be imposed on Air-conditioning machines, TVs, Dishwashing machines, Small cars, Motorcycles (equal to or less than 350 CC), buses, trucks, ambulances, etc. This has been reduced from 28%
Agricultural goods: GST has been reduced from 12% to 5% on agricultural items such as tractors, and agricultural, horticultural or forestry machinery for soil preparation or cultivation, harvesting or threshing machinery, including straw or fodder balers, grass or hay mowers, composting machines, etc.
Labour-intensive goods: GST on labour-intensive goods has been reduced from 12% to 5%, including on handicrafts, marble and travertine blocks, granite blocks, and intermediate leather goods.
Cement: GST on cement has been reduced from 28% to 18%
Lifesaving drugs: On 33 lifesaving drugs, the GST has been reduced from 12% to NIL, while on 3 lifesaving drugs & medicines used for treatment of cancer, rare diseases and other severe chronic diseases, the GST has been reduced from 5% to NIL
Other medicine GST on all other drugs and medicines has been reduced from 12% to 5%.
Medical devices: GST has been slashed from 18% to 5% on various devices used in medical, surgical, dental, veterinary, and analytical applications.
Medical supplies: GST on medical supplies like wadding gauze, bandages, diagnostic kits and reagents, blood glucose monitoring system (Glucometer), medical devices, etc, has been reduced from 12% to 5%
Also read: 'Next-gen GST' to roll out from Sept 22: Key takeaways from govt's tax overhaul, FAQs answered
Manmade textile: To correct the inverted duty structure, GST is brought down to 5% on manmade fibre (from 18%) and manmade yarn (from 12%).
Fertiliser: A similar correction reduces GST from 18% to 5% on sulphuric acid, nitric acid, and ammonia.
Renewable energy devices: GST is brought down from 12% to 5% on renewable energy equipment and components.
Hotel accommodation: The tax is reduced from 12% to 5% on hotel stays priced at ₹7,500 or less per unit per day.
Beauty and wellness services: GST is reduced from 18% to 5% on commonly used services like gyms, salons, barbers, yoga centres, and more.
Source: HindustanTimes
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