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GST Council Slashes Tax Rate on 49 Items
January 23, 2018
In its 25th meeting this Thursday, the Goods and Services Tax (GST) Council lowered the tax rate on 49 items and brought 29 other items under the 0% tax rate.
Some of the items on which the tax rate has been reduced to 18% from 28% include public transport buses that run on bio-fuels, and second-hand motor vehicles. Items on which the tax rate has been reduced to 12% from 18% include bio-diesel, sugar boiled confectionery, and drinking water sold in 20 litres bottles.
Items that will be charged a 0% tax include rice bran and handicrafts.
