Important: Major cut in GST in respect of one hundred seventy-eight itemsToday the Finance Minister Arun Jaitley has made a major announcement in respect of GST rates on 178 items after the meeting of the GST Council. He has stated that 178 items will move to 18 percent bracket with effect from 15th November, 2017. Dining out will become cheaper in all restaurants of the country, except those in starred hotels. Dining will be charged @ 5 percent instead of current 18 percent. Daily use items like shampoo, deodorant, toothpaste, shaving-cream, after-shave lotion, shoe-polish, chocolate, chewing-gum and nutritious drinks will also be charged at lower rates w.e.f. 15th November.
Three items will move from the 18 percent slab to 12 percent, six items from 18 per cent to 5 percent, eight items from 12 to 5 and six items from 5 percent to nil. From 15th November, 2017, only fifty items will remain in the highest tax slab of 28 percent,
Prime Minister Narendra Modi has welcomed the decision of the GST Council. People will be more happy now.