The dates of the GST Council meeting have been announced. According to the information received, this meeting is to be held in Jaisalmer on 21 December under the chairmanship of Finance Minister Nirmala Sitharaman. There are reports of many big decisions and important changes in this meeting. It is feared that the prices of tobacco and cigarettes can be increased in this meeting. On the one hand, the prices of tobacco and cigarettes can increase, while on the other hand some everyday things can also become cheaper. The biggest thing is that in this meeting, a decision can be taken to exempt health and life insurance from GST.
GST can be imposed up to 35%
One of the big decisions in this meeting is that GST on cigarettes and tobacco can be increased. According to media reports, it has been proposed to increase the tax on tobacco and cigarette related products from the current 28% to 35%. This decision can be taken in order to increase revenue collection. However, this is not the first time that GST has been increased on cigarettes and tobacco. Earlier also, the government has imposed tax on cigarettes and tobacco. Let us tell you that a group of ministers headed by Bihar Deputy Chief Minister Samrat Chaudhary held a meeting on Monday to finalize this rate. Everyone has agreed to propose a rate of 35% on tobacco. For this, the current four-tier tax structure of 5%, 12%, 18% and 28% will remain in force. This will also include the new 35% rate.
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GST can be reduced on these
- The 12% GST on notebooks will be reduced to 5%
- The 18% GST on packaged drinking water (20 litres and above) will be reduced to 5%
- The 12% GST on bicycles costing less than Rs 10,000 will be reduced to 5%
GST can be increased on these
- The 18% GST on wristwatches costing more than Rs 25,000 will be increased to 28%
- The 18% GST on shoes costing more than Rs 15,000 per pair will be increased to 28%
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