Modi Govt New Year gift!!!! Lower GST rates on film tickets among 23 items effective from today

The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy.

E-commerce companies such as Amazon, Snapedeal, Myntra, Paytm etc will now have to collect up tp 1 per cent TDS while making any payment to their suppliers. (Image: PTI)

New Delhi: In what comes as a perfect New Year's gift to the common man, Modi government's decision to slash Good and Services rates on 23 items including movie tickets, TV and monitor shall be effective from Tuesday. The consumers will have sigh a huge relief as they would dish out lesser for these items of common consumption owing to lesser Goods and Services Tax (GST) on them from Tuesday. The GST Council on December 22 decided to cut tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks and exempted frozen and preserved vegetables from the levy. The government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen. The other items which will attract lower GST rate of 5 per cent include marble rubble, natural cork, walking stick, fly ash blocks. Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST. Music books and vegetables (uncooked or cooked by steaming or boiling in water), frozen, branded and put in an unit container and vegetables provisionally preserved but unsuitable in that state for immediate consumption have been exempted from GST. Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST. Air travel of pilgrims by non-scheduled/charter operations being facilitated by the government under bilateral arrangements will attract a lower GST rate of 5 per cent. GST on movie tickets costing up to Rs 100 has been cut to 12 per cent, from 18 per cent. Also tickets over Rs 100 will attract 18 per cent GST, against 28 per cent earlier. As against 28 per cent earlier, monitors and TV screens up to 32 inches and power banks will attract 18 per cent GST. (With Agency Inputs)