Finance Minister Nirmala Sitharaman reduced tax on these items in GST!
After the meeting of the GST Council, the Finance Minister informed about the decisions in a press conference.
1- Giving great relief to the students giving competitive exams, GST will no longer be levied on National Taxing Essays.
2- Now GST will not be applicable to the examination fees. 18% GST is applicable on the first exam fee.
3- In the GST Council meeting, the GST rate has been cut on Raab (Liquid Jaggery) and Pencil sharpener.
4- The Finance Minister said that the GST Council has postponed the decision to tax AUVs (MUBs) on the lines of SUVs.
5- Changes were made in the taxation system to prevent tax evasion. Earlier, Ad Valorem Tax was imposed on production.
6- Finance Minister told that now GST will be levied on Pan Masala and Gutkha according to the production.
7- Finance Minister Nirmala Sitharaman said that coarse cereals will be considered in the next meeting of the GST Council.
According to the Finance Minister, a total compensation of 16982 crores will be given to all the states so far.