GST rate reductions
* Vegetables, (uncooked or cooked by steaming or boiling in water), frozen, branded and put in a unit container
* Vegetable provisionally preserved (for example by sulphur dioxide gas, in brine, in sulphur water or in other preservative solutions), but unsuitable in that state for immediate consumption
Some of the items that have been reduced from 28 per cent to 18 per cent:
Pulleys, transmission shafts and cranks, gear boxes
Monitors and TVs of up to screen size of 32 inches.
Re-treaded or used pneumatic rubber tyres
Power banks of lithium ion batteries
Lithium ion batteries are already at 18 per cent
Video game consoles and other games and sports requisites.
Cinema tickets of up to Rs 100 have been brought down to 12% from 18%. Tickets above Rs 100 have been brought down to 18% from 28%.
There will be no premium tax on airline fares for religious purposes. Business class tickets will attract 12% GST, economy 5%.
Cement and auto parts still in 28% more
high NPA levels at banks the fear of bank failure looms large particularly for Senior Citizens.
Retd. Bank Official
Chennai, Tamilnadu, India
Sent from Yahoo Mail on Android
On Sat, 22 Dec 2018 at 18:38, Garima Sharma<email@example.com> wrote: more
All political parties wants to take credit when in power. But we should not forget that we all want to eat the cake n have too. Is that possible.
The foreign schools of economics or business cannot teach and solve our socio-economic problems ever. It is our schools n our people on our soil can only do. Or otherwise ,why so many complexity in issues, objections all the time we have to face. Yes, of course it is good to review such system from time to time n do necessary changes as situation demands. Personally I there should not be any tax on food. Air-conditioned or non-airconditioned hotels, restaurants.
Similarly all such taxes when implemented the people who draft such laws are never see it from so called common citizens eyes.
Our total excise, sales tax import duties, export duties etc; were drafted during the colonial rule. And our so called experts have kept on adding so many products , amendments in the rule.
Just for example: During British Raj then govt implemented few pai tax on salt n for it Gandhiji took out protest march that time salt was sold at 2paise a Sher. Every year we commemorate that event ,but have noticed that today what price including tax are we paying ? Ideally if all political parties worship gandhiji than there should be no tax on edible salt, it is life saving n essential for all live stocks.
So what all our learned friends say on this? The salt act was only deleted from the excuse manual just 20yrs back after independence, what a pity.
You see our constitution was drafted by that time experts team n do we ever bother to know how many amendments were carried out, changes made by the ruling political parties for their benefits to remain on power? If that constitution was so perfect why it was amended so many times,means those who have drafted have not done their homework in detail if had they done it, even today also our constitution would have been in draft form.
Same is the case with GST.WE KEEP ON COPIYING OTHERS OUR OWN EXPERTISE IS BIG ZERO MANY TIMES.
JAI HIND more