TV, refrigerator, washing machines to get cheaper, GST rate cut on 50 items
New Delhi, July 21 : In a relief for common man, the GST Council on Saturday reduced tax rates on over 50 items including refrigerators, washing macines and small televisions, which would now be taxed at 18 per cent, down from the current 28 per cent.
Apart of bringing down rates, the Goods and Services Tax (GST) Council also exempted GST on sanitary napkins, rakhis, fortified milk and idols of deities made of stone, marble and wood.
The changes would come into effect across the country from July 27 onward, Finance Minister Piyush Goyal told media after the 28th meeting of the GST Council.
"Refrigerators, small televisions, of upto 25 inches, lithium ion batteries, vacuum cleaners, domestic electrical appliances, such as food grinders, mixers....storage water heaters, immersion heaters, hair dryers, hand driers, electric smoothing irons," among others have been brought to the 18 per cent slab," Goyal said.
The council also gave a major relief to the hotel industry by providing that tax rate shall be based on transaction value instead of declared tariff.
Earlier, there was a lack of clarity on the issue causing a lot of trouble for consumers booking hotels with 'declared tariffs' of Rs 7,500 and above which incurred 28 per cent GST.
While hotels with tariff below Rs 1,000 are exempted from GST, those with tariff between Rs 1,000-2,500 are taxed at 12 per cent, those between Rs 2,500-7,500 at 18 per cent, and above Rs 7,500 at 28 per cent.
However, it often happened that hotels offered discounts and hence the actual transaction cost would be much lower than the declared cost, but tax would still be charged at the declared cost.
Another significant decision the council made was regarding easing of return filing procedure by approving two new simplified forms called 'Sugam' and 'Sahaj', the minister said.
Also, enterprises with annual turnover of upto Rs 5 crore would have to file quarterly returns instead of the current monthly filing, although they would continue to pay tax on a monthly basis.
However, the implementation of the revamped return filing process would take some time as corresponding changes would have to be made into the GST network, the minister clarified.
The council also deferred the implementation of reverse charge mechanism by another year and now it will come into force from October next year.
The minister further informed that the council would have a special meeting on August 4 to address concern of small and medium enterprises.
Among other tax-reduction decisions, Goyal said, tax rate on handicraft items such as handbags, pouches and purses, jewellery box, wooden frames of paintings and photographs among others have been brought under the 12 per cent slab, from 18 per cent.
GST on handmade carpets and handmade textile floor coverings has been reduced from 12 per cent to 5 per cent.
The tax rate on ethanol, which is used in the blending of petrol and diesel also has been brought down to 5 per cent from 18 per cent.
During the meeting, the council also made certain amendments to the GST Act including raising the upper limit of turnover for opting for composition scheme from Rs 1 crore to Rs 1.5 crore.
It also approved an amendment which will enable taxpayers to opt for multiple registrations within a state in respect of multiple places of business located within the same state.
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Ladakh a living land of dharma for centuries: Amit Shah
Leh/Jammu (PTI): Union Home Minister Amit Shah on Friday described the return of sacred relics of Lord Buddha to Ladakh after 75 years as a "historic reunion" and said that the Union Territory has remained a "living land of dharma", preserving and nurturing Buddhist knowledge for centuries.
Stressing the relevance of Buddha's teachings in modern times, Shah said the message of peace, compassion and the middle path was even more important today than it was 2,500 years ago.
"Ladakh has been a living land of dharma for centuries. When the Dalai Lama comes here, he says this land is not merely a geographical land but a living laboratory of Buddhist culture and compassion," Shah said, speaking after the inauguration of the sacred holy relics exposition of Tathagata Buddha and the 2569th Buddha Purnima celebrations at Jivetsal in Leh during his two-day visit to Ladakh.
Calling Ladakh a land of compassion, he said this land has preserved and nurtured knowledge. "Whenever Buddhism faced crises, this land worked to protect the teachings of Buddha. And when peace returned, it helped to expand and carry forward that preserved wisdom," he added.
"Unless one internalises knowledge and makes it a part of oneself, liberation is not possible. Knowledge is incomplete without spiritual practice, while spiritual practice without knowledge is blind. Therefore, the union of spiritual practice and knowledge is the right path. Even after all this, if there is no moral discipline, one cannot lead a truly wise life. The basis of a life of wisdom is moral discipline," he said.
Shah said it was through Ladakh and adjoining routes that the teachings of Tathagata Buddha, which originated in India, spread to China and several other countries.
"The message that emerged from the land of Ladakh has become a guiding force for many people around the world to take their lives forward. The presence of these sacred relics in Ladakh reminds us that India's civilisation has, for thousands of years, given the message of peace and coexistence," he said.
He said that in a diverse region like Ladakh and Kargil, this message becomes even more relevant. "This heritage still tells us today that amidst conflict and unrest, only the path of peace and compassion can provide solutions."
He said the return of the relics on Buddha Purnima had enhanced the significance of the festival for the people of Ladakh.
"These sacred relics have come to Ladakh after 75 years. It is as if Buddha himself is present here today," Shah said, adding that followers of Buddhism and people of other faiths in Ladakh and Kargil would draw spiritual energy from the relics.
Highlighting Ladakh's role in the spread of Buddhism, Shah said Kashmir was once an ancient centre of Buddhist studies, Mahayana philosophy and Buddhist art, from where Ladakh first came into close contact with Buddhism.
He said Emperor Ashoka's envoys laid the foundation of Buddhist influence in Ladakh through Kashmir and Gandhara, while Mahayana Buddhism expanded in the region during the Kushan period between the first and third centuries CE.
The Silk Route linking Kashmir, Leh, Yarkand, Khotan and Tibet became a channel not only for trade but also for ideas, monks, manuscripts and artistic traditions, Shah said.
He added that later, Tibetan influence between the seventh and tenth centuries further enriched Ladakh through Mahayana and Vajrayana traditions.
Stressing the relevance of Buddha's teachings in modern times, Shah said the message of peace, compassion and the middle path was even more important today than it was 2,500 years ago.
"Amid conflict and unrest, only the path of peace and compassion can provide solutions," he said.
Shah also appealed to the Ladakh administration to ensure complete arrangements so that followers of all faiths, especially Buddhists, could visit and pay obeisance to the relics.
#WATCH लेह, लद्दाख: केंद्रीय गृह मंत्री अमित शाह ने कहा, "जब दलाई लामा यहां आते हैं तो वे कहते हैं कि यह भूमि केवल भौगोलिक भूमि नहीं है। यह भूमि बौद्ध संस्कृति और करुणा की जीवंत प्रयोगशाला है। इस भूमि पर ज्ञान का संरक्षण हुआ है... भारत की सभ्यता हजारों वर्षों से शांति का संदेश… https://t.co/2nwG0w2CE6 pic.twitter.com/W13itRBqeX
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