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GST Council slashes tax rate on 177 Mass Consumption items

Odisha News Insight 2017-11-10 18:07:32

Insight Bureau: The GST Council meeting held in Guwahati earlier today, has slashed the tax rate on 177 mass consumption items including chewing gums and detergents to 18% from existing 28%.

Out of 227 mass consumption items, only 50 luxury goods will incur 28% tax slab. The remaining 177 items would be in 18% slab, the council noted. Union Finance Minister Arun Jaitley chaired the meeting.

The Goods and Services Tax (GST), implemented from July 1, has five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent.

“All types of chewing gum, chocolates, preparation for facial make-up, shaving and after-shave items, shampoo deodorants, washing powder detergent and granite and marble will attract lower 18 per cent tax rate,” confirms Bihar CM Sushil Modi.

Paints, cement, washing machines and air conditioners will continue to be under the 28% tax slab.