National Desk: The central government has given a big relief to the general public in the 56th meeting of the GST Council. Finance Minister Nirmala Sitharaman announced after the meeting that the GST slabs have now been reduced to only two – 5% and 18%.
These rates will come into effect from September 22. Many items related to daily needs have now been brought under the scope of zero tax. From kitchen to study , food products like tax free ready to eat food, cheese, milk, roti, bread and pizza will now be tax free.
Apart from this, educational items such as pencil, eraser, cutter, notebook and globe have also been exempted from GST.
Relief for farmers too-
GST rates have been reduced on tractors and its parts. Now only 5% tax will be levied on tractors, which was 12% earlier.
Relief on medicines and health insurance- 33 life saving medicines have been exempted from GST. Also, health and life insurance policies will also not be taxed now.
Tax reduced on household items- Tax rate on many products such as bicycles, utensils, milk bottles, umbrellas, bamboo furniture, combs has been reduced from 12% to 5%. Whereas, GST rate on personal care products such as shampoo, soap, hair oil, face powder has been reduced from 18% to 5%.
