List of Items Removed from 28% GST Slab Rate: 31st GST Council Meeting

GST Council’s 31st meeting has taken some of the major decisions on the higher slab rate. The meeting deliberately made discussion on the items coming under the highest 28% GST slab rate.

GST Council had earlier hinted over the GST rate reduction on 28% slab rate and now made official statements regarding the much awaited GST rate reduction on the items coming under the 28% GST slab.

From a long time, multiple issues were carried forward in the name of higher GST rates on common man items and this has given enough majority to the panel to do some rate revision.

It was observed that most of the items coming in the highest GST slab rate of 28% were targeting the common man items including the cement, the basic ingredient to build a house, which is again another synonym for the common man’s need.

Here are the items that will get cheaper:

GST slashed from 28% to 18%

Pulleys, transmission shafts and cranks, gear boxes etc., falling under HS Code 8483
Monitors and TVs of up to screen size of 32 inches
Re-treaded or used pneumatic tyres of rubber;
Power banks of lithium ion batteries. Lithium ion batteries are already at 18%. This will bring parity in GST rate of power bank and lithium-ion battery.
Digital cameras and video camera recorders
Parts and accessories for the carriages for disabled persons

GST rate reduction on services

GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12%
Services supplied by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) shall be exempted.
Services supplied by rehabilitation professionals recognised under Rehabilitation Council of India Act, 1992 at medical establishments, educational institutions, rehabilitation centers established by Central Government / State Government or Union Territories or entity registered under section 12AA of the Income-tax Act shall be exempted.
Services provided by GTA to Government departments/local authorities which have taken registration only for the purpose of deducting tax under Section 51 shall be excluded from payment of tax under RCM and the same shall be exempted.
Exemption on services provided by Central or State Government or Union Territory Government to their undertakings or PSUs by way of guaranteeing loans taken by them from financial institutions is being extended to guaranteeing of such loans taken from banks.
Air travel of pilgrims by non-scheduled/charter operations, for religious pilgrimage facilitated by the Government of India under bilateral arrangements shall attract the same rate of GST as applicable to similar flights in Economy class (i.e. 5% with ITC of input services).

GST rate reduction on other goods

18% to 12%
Cork roughly squared or debagged
Articles of natural cork
Agglomerated cork

18% to 5%
Marble rubble

12% to 5%

Natural cork
Walking Stick
Fly ash Blocks