AS women centric NGOs hails exemption of sanitary napkins from GST ,corporate houses are happy after the GST Council has decided to allow quarterly filing of returns by the business houses with a turnover of crore 5 crore INR .Chairing the first GST Council meet since he took over as Finance Minister CA turned politico, Piyush Goyal allowed businesses with turnover of up to Rs 5 crore to file quarterly returns to benefit 93 per cent of the GST registered taxpayers. They will have to, however, pay taxes monthly. The GST Council comprising finance ministers of states and the Union Territories and the Union Finance Minister which met in New Delhi on Saturday has reduced 28 per cent slab by on 191 goods over the last one year leaving just 35 items, including AC, digital camera, video recorders, dishwashing machine and automobiles, in the highest tax bracket. Initially, there were about 226 goods in the 28 per cent category when Goods and Services Tax (GST) was implemented on July 1, 2017.The GST Council on Saturday cut tax rates on 88 items, including footwear, refrigerator, washing machine and small screen TV, while the widely demanded sanitary napkins have been exempted from the levy. The highest tax bracket of 28 per cent has been rationalised further with rates on daily-use items like perfumes, cosmetics, toiletries, hair dryers, shavers, mixer grinder, vacuum cleaners, lithium ion batteries, being lowered to 18 per cent. The revised tax rates will come into effect from July 27.GST on commodities slashed to 0%: Sanitary Napkins. Supply of services by old-age homes.GST on commodities slashed from 28% to 18%:Refrigerators Water Heaters,Washing Machines,Televisions (up to 68 cm),Vacuum ,cleaners,Paints,Hair Shavers,Hair Curlers,Hair Dryers,Scent Sprays.Lithium-ion batteries used in mobile phones and electric vehicles,GST on commodities slashed from 18% to 12%:Handbags including pouches and purses; jewellery box.Wooden frames for painting, photographs, mirrors etc.Ornamental framed mirrors.Brass Kerosene Pressure Stove,Art ware of iron,GST on commodities at 5%:Ethanol,Solid biofuel pellets,Handmade carpets and other handmade textile floor coverings (including namda/gabba),Hand-made braids and ornamental trimming in the piece. Appreciating the decision to exempt sanitary napkin from the tax net ,Goa Chief Minister Manohar Parrikar says it is “A welcome decision to exempt sanitary napkins from GST at the 28th GST Council Meet .Prime Minister Narendra Modi says exemption of sanitary napkins from tax is in interest of health and well-being of women and girls.” he tweeted on Saturday. In the 28th Goods and Services Tax Council, it was resolved to exempt sanitary napkins from GST. Sanitary napkins were taxed at 12 per cent GST, after the indirect tax regime was introduced on July 31, 2017. FICCI said in a statement that the decisions relating to simplification of returns and especially keeping the interests of small taxpayers are noteworthy. This would facilitate ease of doing business both for small and large taxpayers as well as compliance of tax filling.
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