23 goods and services, including movie tickets, TV and monitor screens and power banks become cheaper from January 1 as the reduced Goods and Services Tax (GST) on them came in to effect.
The GST Council on December 22 had decided to cut tax rates on 23 goods and services and exempted Music books, preserved vegetables and savings bank accounts under the Jan Dhan Yojana from the Tax.
The Council had rationalized the 28 per cent slab and restricted the highest slab to luxury, demerit, and sin goods, besides cement, large screen TV, Air Conditioners and dishwashers.
Other products such as pulleys, transmission shafts and cranks, gear boxes, retreated or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders, and video game consoles are already selling at 18% GST rate.
The other items which will attract lower GST rate of 5% include marble rubble, natural cork, walking stick, fly ash blocks, and parts and accessories for the carriage for disabled persons.
In a similar move, the government has also slashed LPG prices across the country. LPG will be cheaper by Rs120.5 for unsubsidized customers and Rs5.91 for subsidized customers.
(Featured image : NDTV.com)