GST council revises tax rates on 29 goods and 53 categories of services

The revised tax rates will be effective from January 25, 2018

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On January 18, 2018, the GST Council approved a change in tax rates of 29 goods and 53 categories of services which will be effective from January 25, said finance minister Arun Jaitley. He added that in the next meeting, the council will discuss on petroleum and other exempt items.

Jaitley said that there will be no GST tax on 29 handicraft items to protect jobs in the hand-made industry. He added that every year, India exports about ₹4,000 crore of handicrafts which also includes handmade carpets. Currently, handicraft items attract 12-18 per cent GST. 

In their previous meeting, in the month of November, the Council had reduced the tax rate on over 200 items.

ItemsPrevious GST rate (% wise)Revised GST rate
LPG
18 per cent
5 per cent 
Bio-fuel powered buses
28 per cent
18 per cent 
Diamonds and precious stones
3 per cent
0.25 per cent
Sugar boiled confectionary and drinking water
18 per cent 12 per cent
Drip irrigation system equipments
18 per cent 12 per cent 
Cigarette filter rods
12 per cent 18 per cent 


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