GST council brings down TV set price to 18% slab

GST council brings down TV set price to 18% slab

TV screens were earlier in the highest 28% slab.

TV set

MUMBAI: At the 31st Goods and Service Tax (GST) council meeting, GST rates on several items have been decided to be brought down from the top 28 per cent slab. Among the items that have been brought down from the 28 per cent slab to 18 per cent include monitors and television up to screen size of 32 inches.
Monitors and television screens along with other items have been brought down from 28 per cent to 18 per cent slab. Now, only the lmuxury and sins goods items will remain in the 28 per cent slab.

Along with the TV industry, this GST council has brought good news for the film industry too. As per the decision of today’s meet, cinema tickets upto Rs 100 will be brought down to 12 per cent slab from 18 per cent slab and above Rs 100 has been brought down to 18 per cent from 28 per cent.

According to media reports, Union Finance Minister Arun Jaitley said the new GST rates will be effective from 1 January 2019. He also added that new GST return filing system will come into effect from 1 July next year.