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GST rate cuts: GST Council may look to rationalise 28% slab

The GST Council is likely to rationalise the 28 per cent slab by cutting tax rates on construction items, like cement, in its meeting next week.

“The idea is to keep only those items in the 28 per cent slab which are used for luxury purpose and demerit goods. The final call will be taken by the Council,

When Services Tax (GST) was implemented, there were around 226 goods in the 28 per cent category.

In its July meeting, the GST Council had further rationalised the 28 per cent slab by cutting rates on paints and varnishes, and on daily-use items like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners, lithium ion batteries, and cut rates to 18 per cent.

The 35 goods, which are left in highest slab include cement, automobile parts, tyres, automobile equipments, motor vehicles, yachts, aircrafts, aerated drinks, betting and demerit items like tobacco, cigarette and pan masala.

The official said cutting GST rate on cements would give a boost to the housing and construction industry as well as have positive impact on employment generation.

 

 

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