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~GR.121~HT.336~
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~GR.121~HT.336~
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NewsTranscript
00:00GST Council meeting is going to take place today i.e. on Saturday, in this case, many big decisions can be taken by the Finance Minister Nirmala Sitharaman.
00:13Tax can be reduced on many things, so tax can also be imposed on some things.
00:18GOM i.e. Group of Ministers has proposed a change in the rates of 148 things in total.
00:25So let's tell you everything in detail in this video that what can be expensive and what can be cheap in GST Council meeting.
00:34GST Council's 55th meeting is taking place in Jaisalmer, Rajasthan.
00:40GST Council can decide to reduce tax rates on Life and Health Insurance in its meeting.
00:47But decisions can also be taken on products with high rates and high ticket rates.
00:53On food distribution platforms like Swiggy and Zomato, there is a proposal to reduce GST rates from 18% to 5%.
01:02However, along with the electric vehicle used by the Fitment Committee, there is also a proposal to increase the rate from 12% to 18% on the sale of small petrol and diesel vehicles.
01:14GST rates have to be decided on a major health and life insurance in the Council's agenda.
01:19In this meeting, there is a possibility of reducing GST on the health insurance premium of up to Rs 5 lakh.
01:26However, this rule will not be applied on more than Rs 5 lakh cover.
01:30This meeting can prove to be a big step in promoting health and life insurance and making insurance schemes profitable.
01:38In addition, the Group of Ministers has proposed to reduce GST from 18% to 5% on 20 liters and more packaged drinking water and reduce GST from 12% to 5% on cycles worth less than Rs 10,000.
01:55GST will also be reduced from 12% to 5% on the exercise notebook.
02:01At the beginning of this month, the Group of Ministers has decided to increase the tax on harmful products such as cold drinks, cigarettes, tobacco and related products from 28% to 35%.
02:14Under GST, 4 tax slabs of 5, 12, 18 and 28% will continue.
02:20Along with this, 5% GST will be applied on ready-made clothes worth up to Rs 1,500.
02:2518% GST will be applied on clothes worth up to Rs 1,500 to Rs 10,000.
02:3028% GST will be applied on clothes worth more than Rs 10,000.
02:355% GST is applied on clothes worth up to Rs 1,000, while 12% GST is applied on clothes worth more than this.
02:42On shoes worth more than Rs 15,000, GST has been proposed to be increased from 18% to 28%.
02:51On wristwatches worth more than Rs 25,000, GST has been proposed to be increased from 18% to 28%.
03:00So we have told you which things can be cheaper and which things can be expensive in the GST Council meeting today.
03:07So what is your opinion on all this?
03:09Give us your opinion in the comment box and keep watching Good Returns for such updates.
03:13Don't forget to like and subscribe to our channel.