Business

New GST rates on number of items to come into effect from today

The new Goods and Services Tax (GST) rates on a number of items will come into effect from today. Certain items will attract more GST while certain things are set to come down from today. The exemption from GST on a number of items have been withdrawn. The decision to change the GST rate had been taken during the 47th GST Council Meeting held in Chandigarh last month.

Eighteen percent GST will be charged by banks on a fee for issuing cheques. Hotel accommodation priced upto one thousand rupees per day will be taxed at 12 percent. The solar water heater will now attract 12 percent GST as compared to five percent earlier. GST on e-waste has increased to 18 percent from the earlier rate of five percent.

The Tax will be cut on transport of goods and passengers by ropeways to five percent from 12 percent. The electric vehicles are eligible for the concessional GST rate of five percent. GST exemption on the transport of passengers by air to and from northeastern states and Bagdogra will be restricted to economy class only.

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