29 Goods 53 Services Cheaper Due To GST Cut
GST Council mulls approaches to ease the burden of filing returns in order to boost compliance. The Goods and Services Tax (GST) Council has reduced the rates on 29 goods and 53 categories of services, Finance Minister Arun Jaitley said following the Council’s meeting on Thursday. Against the backdrop of declining GST collections and reduced compliance, the Council also discussed in detail various approaches to ease the return filing compliance burden, and the need for the implementation of anti-evasion measures. Some of the services for which the rates have been cut include tailoring (18% to 5%), admission to theme parks (28% to 18%), and petroleum and natural gas mining and exploration (18% to 12%). The goods on which the rates have been reduced include biodiesel buses used for public transport (28% to 18%), sugar boiled confectionery, biodiesel, drinking water packed in 20 litre containers (all from 18% to 12%), and LPG supplied to domestic consumers by private distributors (18% to 5%). The new rates would come into effect on January 25.