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August 23, Wednesday 2017 5:34 PM       

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       GST Council revises rates for cinema tickets
 
         Posted on :17:30:39 Jun 11, 2017
   
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       Last edited on:20:51:57 Jun 11, 2017
         Tags: GST Council revises rates for cinema tickets
 

NEW DELHI: Union Finance Minister Arun Jaitley, in the 16th Goods and Service Tax (GST) Council meet on Sunday, announced maintaining of 28 per cent tax on all cinema tickets above Rs. 100, while of those below Rs. 100 to be reduced to 18 per cent.

"We have received representation for about 133 goods, and after considering representations, the GST council has reduced tax levels in 66 cases," added Jaitley while addressing that the reduction has been on two principles.

While fixing the GST on cashew nuts, the minister said that the rates have been reduced from 12 per cent to five per cent.

"Packaged foods including ketchups, food mixes, pickles etc. have been reduced from 18 per cent to 12 per cent due to their excessive usage amongst the common people," added Jaitley.

On being asked about the taxation rates on sanitary napkins, the Finance Minister said, "What has been decided earlier remains. No further rates for this category."

The Council has till now fixed rates of more than 1200 goods and 500 services. Last, it finalised rates for few contentious goods such as gold and jewellery, agricultural implements, biscuits, footwear and textile.

However, it may also discuss the GST rate for the telecom sector, which has been fixed at 18 per cent.

The telecom industry has demanded a lower rate, arguing that an 18 per cent GST rate, higher than the current 15 per cent service tax for sector, will adversely affect the industry.

The Council headed by Jaitley, is scheduled to meet once more before the rollout of the new indirect system from July 1 on June 18 at the Vigyan Bhawan.

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       BUSINESS
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