Piyush Goyal, the union interim finance minister had said after the 28th annual meeting of GST council that the Goods and Services Tax Council has decided to exempt taxation of sanitary napkins. Besides, items like deities made of wood, rakhi, will also not be taxed.
Goods and Services Tax on urea which is imported is now at 5%, and the tax on washing machines will be dropped from 28% to 18%. Other items which will be brought from 28% slab to 18% slab include trucks, lithium-ion batteries, grinders and mixers, water heaters, water coolers, toilet spray and perfumes, special purpose vehicles, paints, and varnishes.
The tax has been reduced to 12% on
handbags, framed mirrors, glass arts, bamboo flooring, and lamps. Piyush Goyal
also announced that these taxes decided will be in effect from July 27 and
that GST Council has so far cleared 46 amendments, to be passed in Parliament.
It was also announced that traders who have more than 5 crores turnover must
deposit tax every month though they don't need to file quarterly returns.
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