GST Rate Cut: List of Items That Will Become Cheaper From January 2019

Check out the list of item that will get cheap from January 2019.

New Delhi: Computer monitors, TV screens, video games, lithium-ion power banks, retreaded tyres, wheelchairs and cinema tickets will become cheaper from January 2019 as they have been removed from the highest 28 per cent bracket under the Goods and Services Tax (GST) regime. Addressing media after 31st GST Council meeting, Finance Minister Arun Jaitley said,”28% slab rate is only applicable on 34 items now. Tyres, Power banks of Lithium-ion batteries have brought down from 28% to 18% slab. Accessories for carriages for specially abled persons have been brought down to 5%.”

Among the items consumed by the common man, only cement continues to remain, alongwith luxury and ‘sin’ goods, in the 28 per cent bracket as the GST Council brought down the rates of all other categories of goods in a further rationalisation of rates that left only 28 items in the highest tax slab.  The GST on wheelchair accessories has been brought down to 5 per cent from the existing 28, which will also allow the payment of input tax credit that is not possible with zero tax,” Jaitley said.

Airconditioners and dishwashers have been left untouched at the highest rate because these are not items of common use in India, he added.

Check out the list of item that will get cheap from January 2019.

ITEM (GOODS)	Existing rate	New rate
Monitors and Televisions up to 32-inches	28	18
Power banks of lithium ion batteries	28	18
Tyres	28	18
Pulleys, transmission shafts and cranks, gear boxes etc.	28	18
Digital cameras and video camera recorders	28	18
Video game consoles and other games and sports requisites falling under HS code 9504.	28	18
Parts and accessories for differently-abled	28	5
Cork roughly squared or debagged	18	12
Articles of natural cork	18	12
Agglomerated cork	18	12
Marble rubble	18	5
Natural cork	12	5
Walking Stick	12	5
Fly ash Blocks	12	5
Music books	12	0
Vegetable provisionally preserved	5	0
Vegetables frozen	5	0
SERVICES
Cinema tickets above Rs. 100	28	18
Cinema tickets up to Rs. 100	18	12
Insurance premium on goods-carrying vehicles	18	12

Notably, this major tax rationalisation ahead of the 2019 general elections comes after Prime Minister Narendra Modi recently promised to bring 99 per cent the goods under the 18 percent or lower GST slab.