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GST Hike
GST rate hike: From July 18, the prices of several essential commodities and services are going to increase.
GST rate hike: Be ready to spend more for household items, hotels, bank services, among others from next week. After the recommendations that were taken up in the two-day 47th GST Council meeting in Chandigarh on Wednesday, the Goods and Services Tax (GST) were hiked for numerous items
From July 18, the prices of several essential commodities and services are going to increase.
The GST on printing/writing or drawing ink, LED lamps, lights and fixtures and their metal printed circuit board has been hiked to 18 per cent from 12 per cent.
The GST rate on solar water heaters and systems has been hiked to 12 per cent from 5 per cent.
GST rate on job work in relation to manufacture of leather goods and footwear has been increased to 12 per cent from 5 per cent, besides rate on works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium being increased to 18 per cent from 12 per cent.
The rate on tetra pack has been increased to 18 per cent from 12 per cent and rate on cut and polished diamonds to 1.5 per cent from 0.25 per cent.
GST on the following items are going to be hiked from July 18. Here is the full list
Printing, writing or drawing ink - 18%
Knives with cutting blades, Paper knives, Pencil sharpeners and blades therefor, Spoons, forks, ladles, skimmers, cake-servers etc-18%
Power driven pumps primarily designed for handling water such as centrifugal pumps, deep tube-well turbine pumps, submersible pumps; Bicycle pumps-18%
Machines for cleaning, sorting or grading, seed, grain pulses; Machinery used in milling industry or for the working of cereals etc; Pawan Chakki that is Air Based Atta Chakki; Wet grinder-18%
Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce and its parts, Milking machines and dairy machinery-18%
LED Lamps, lights and fixture, their metal printed circuits board-18%
Drawing and marking out instruments-18%
Solar Water Heater and system-12%
Prepared/finished leather/chamois leather / composition leathers-12%
Cheques, lose or in book form-18%
Maps and hydrographic or similar charts of all kinds, including atlases, wall maps, topographical plans and globes, printed-12%
Hotel accommodation priced upto Rs. 1000/day shall be taxed at 12%
Room rent (excluding ICU) exceeding ₹5000 per day per patient charged by a hospital shall be taxed to the extent of amount charged for the room at 5% without ITC.
Works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium etc.-18%
Works contract supplied to central and state governments, local authorities for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals etc. & sub-contractor thereof-18%
Works contract supplied to central and state governments, union territories & local authorities involving predominantly earthwork and sub-contracts thereof-12%
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