ACs, televisions may get GST rate cut from 28% to 18%

A range of goods from air conditioners to television sets will likely become cheaper with the Goods and Service Tax (GST) Council expected to slash rates on several products.

Dec 07, 2018 12:12 IST India Infoline News Service

Goods and Services Tax, GST
A range of goods from air conditioners to dishwashers, from television sets to digital cameras will likely become cheaper, with the Goods and Service Tax (GST) Council expected to slash rates to 18% on all products in the 28% slab, except demerit goods, cement, and automobiles.

The Council, chaired by Finance Minister Arun Jaitley, is expected to meet in the week beginning December 17 to discuss the proposal in what could effectively set 18% as the highest GST tax slab, except only three categories of goods and services: demerit goods, cement, and automobiles.

The move comes barely four months ahead of the crucial Lok Sabha elections in April-May, 2019. The cut in rates, however, could affect GST revenues, given that the collections are still short of the budgeted target.

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