Also, the GST Council has decided simplify the process of filing GST returns.
The Hush Post: In a major policy overhaul ahead of the upcoming Lok Sabha polls, the Union government on Saturday exempted sanitary napkins from the Goods & Service Tax (GST). The decision was taken after the 28th meeting of the GST Council held in Delhi, presided by Union Finance Minister Piyush Goel.
Besides sanitary pads, the other major decisions taken by the GST Council are:
GST on bamboo flooring has been reduced to 12 per cent.
GST on Ethanol has been reduced from 18 per cent to 5 per cent. Ethanol is used as a blend in petrol.
GST on 17 household items including fridges and washing machines has been slashed to 18 per cent.
Footwear costing up to 1000 rupees will now attract a GST of 5 per cent.
The GST rate on paints and varnish has been cut down from 28 per cent to 18 per cent.
The tax on juicers, mixers, vacuum cleaners has been slashed to 18 per cent.
Stones, marbles and decorative items made of wood have been exempted from GST.
The government, however, did not take any decision on the Cess on sugar.
Also, the GST Council has decided simplify the process of filing GST returns. Now the form for GST return would consist only of a single page. Similarly, the traders have got some relief as now onwards they need not file the return thrice a month. Businessmen/traders having a turnover upto Rs. 5 crore will have to file the returns on a quarterly basis while others having turnover more than 5 crore will have to file them on a monthly basis.
The new GST rates will be applicable from July 27