DAIKIN

GST Rate: Home Appliances Become More Affordable Now

Goods and Services Tax (GST) council on Tuesday recommended GST rates reduction on washing machines, refrigerators, water coolers, hair dryers, vacuum cleaners, and mixers from 28 percent to 18 percent. The Central Board of Indirect Taxes & Customs, responsible for administering Indirect Taxes, tweeted the recommendation In its 28th meeting held on July 22, the GST Council gave its approval to slash tax rates on over 100 items that were in the highest 28 per cent tax bracket under the Goods and Services Tax. GST rates on articles including consumer durables like smaller television sets, refrigerators, washing machines, paints and varnishes, lithium-ion batteries, and more were brought down from 28 percent to 18 percent. The tax council also rationalized rates on several other items too. The GST Council also exempted sanitary napkins from taxes under the GST regime. The Council also approved Nandan Nilekani’s recommendations for simplifying GST return procedure with minor tweaks. – One India

Share this:

Leave a Reply

Your email address will not be published. Required fields are marked *

Stay Updated on TV Veopar Journal.
Receive our Daily Newsletter.