If there is a season for gifts after Diwali, it is Christmas time. This must be why Indian government decided to play Santa Claus and announced a reduction in GST rates for common items. Here are a few things that got cheaper for us this Christmas:
GST Rate Cuts Announced
- Cinema tickets priced over Rs 100 have been moved from the 28% GST to 18% GST category. Cinema tickets under Rs 100 have been moved from 18% to 12% category. Enjoy the films!
- TV screens and monitors sized 32 inches have been moved from 28% GST to 18% GST.
- Third party insurance also moved to 12% GST category.
- There will be a GST of 5% on solar powr generating plants.
- GST on wheelchairs has been reduced from 28% to 5% - amazing!
The items which still remain in the 28% category are now luxury items like automobile parts, AC and dishwashers etc. Certainly this revision of GST rates means a lot for the aam aadmi. We hear that there will be another meeting in January and we can expect more rate cuts.