Published On : Sat, Dec 22nd, 2018

Movie, air tickets, TVs to be cheaper as govt slashes GST rates

Arun Jaitley

The goods and services tax council on Saturday decided to slash tax rates several items.

Finance Minister Arun Jaitley announced the decisions taken in the meet:

– Now, 28% slab rate is only applicable on 34 luxury items

– GST on economy class air tickets reduced to 5% and business class air tickets to 12%

– GST on movie tickets costing up to Rs 100 cut to 12 % from 18%; tickets over Rs 100 to attract 18% GST, against 28% earlier

– Monitors and television screens, tyres, power banks of Lithium-ion batteries have brought down from 28% to 18% slab

– Accessories for carriages for specially abled persons have been brought down to 5%

– Services supplied by the banks to Jan-Dhan account holders will be exempted from GST