GST Council: The Central Government has taken a big decision regarding the GST rate applicable on many products. If you also use packaged products, then know how much tax you will have to pay on those products. The GST Council in its meeting recently, canned or packaged and labeled (except frozen) fish, curd, paneer, lassi, honey, dry makhana, dry soybeans, peas, wheat and other cereals and puffed rice at five percent GST. have decided to install.
New rates will be applicable from July 18
Let us tell you that the change in tax rates will be applicable from July 18. The pre-packaged and labeled wheat flour, papad, paneer, curd and buttermilk will attract 5 per cent tax.
Treta pack to attract 18% GST
Similarly, 18 percent GST will be levied on Tetra Pack. Also, there is a fee charged by the banks for issuance of cheques. Maps and charts including atlas will attract a fee of 12 per cent. Apart from this, unpacked, unlabeled and unbranded goods will be exempt from GST.
More thoughts on casino and online gaming
Union Finance Minister Nirmala Sitharaman said that the GST Council, in a two-day meeting here, accepted the recommendations of rates rationalization by various groups appointed by it, resulting in changes in tax rates. However, the Council has decided to hold further discussions on the GOM’s report on casinos, online gaming and horse racing. Along with this, it was decided to send this report back to the panel of ministers.
There was a proposal to impose 28 percent tax.
The Finance Minister of Goa wanted further discussion on the GST rate applicable to casinos and in this context both online gaming and horse racing would also be reconsidered. The panel had recommended 28 per cent GST on all three activities and equated them to gambling.
Will be discussed in August meeting
The new report is expected to be ready by July 15 and the council will consider it in its next meeting in August.
How much tax will be charged on hotel rooms?
Apart from this, 12 per cent tax will be levied on hotel rooms costing less than Rs 1,000 per day. At present it comes under the category of exemption. Apart from this, 5 per cent GST will be levied on hospital room rent above Rs 5,000 per day (excluding ICU). Solar water heater will now attract 12 per cent GST as compared to earlier 5 per cent.
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