Sources have made a statement that with 81% of items falling under below 18% tax rate, certain goods that will become cheaper are salad dressings, mayonnaise, weighing machinery, static converters (UPS), electric transformers, winding wires, transformers industrial electronics and two-way radio used by defense, police and paramilitary forces, which will attract 18% tax rate.
Meanwhile postage or revenue stamps will also become cheaper as GST on these has been reduced to five per cent and the tax rate on cutlery, ketchup, sauces and pickle under GST will likely become cheaper as they will be taxed at 12%.
In addition salt, children's picture, drawing or coloring books and cereal
grains have been exempted under GST. Playing cards, chess board, carrom board
and other board games have been reduced to 12% GST rate. Rough precious and
semi-precious stones have been kept at a special rate of 0.25% under GST. The
government is predicting a neutral growth as they cannot predict whether the
tax rate will go up or down. Hey folks just one day left over for the arrival
of GST.
