NEW DELHI: Finance Minister Arun Jaitley said that six items have been removed from the 28 per cent tax bracket under the Goods and Services Tax (GST) regime, news agency IANS reported on Saturday.
Only 28 items now remain in the 28 per cent GST tax bracket.
There were 34 items in the 28 per cent tax bracket which included luxury and 'sin goods' till now. However, the GST Council in its meeting on Saturday decided to take out six items from this list.He also said that the services supplied by the banks to Jan-Dhan account holders will be exempted from GST.
Addressing a press conference after the GST Councilmeeting, Jaitley said that manufacturing and consuming states such as Maharashtra and West Bengal showed significant improvement, while states like Bihar also showed significant improvement in revenue.
Key takeaways:Services supplied by banks to basic savings accounts, PMJDY exempt from GSTGST Council agrees to set up Centralized Advance Ruling AuthorityGST on movie tickets costing up to Rs 100 cut to 12 pc from 18 pc; tickets over Rs 100 to attract 18 pc GST, against 28 pc earlierGST Council cuts rate on 23 goods and services, to have revenue impact of Rs 55 billionNew GST return filing system to come into effect from July 1, 2019