4 big things about GST exemption, which you surely would not know

Earlier, compensation cess was levied on carbonated drinks along with fruit juices along with GST. Now the council has decided to remove this cess. But to ensure that there is no reduction in the total tax, the GST rate has been increased.

PM Modi had talked about giving Diwali gifts on 15th August, after which a big reduction in GST rates was announced. Also, two slabs of 12% and 18% were abolished. This means that now less tax will be levied on many everyday things. Apart from this, GST on personal health insurance has been completely abolished. There is relief for farmers as well, because now only 5% GST will be applicable on tractors and their tyres. Today in this news we will give information about those 4 big things, which you hardly know.

Will a new e-way bill have to be generated for goods in transit when the new rates come into effect?

No. E-way bills in transit will be valid till their original validity period. Suppose a shopkeeper's goods are still in transit and their delivery is to be done after 22 September, then GST payment on those goods will continue as per the old rates.

Why were GST rates reduced on only some Indian breads?

Let us tell you that even earlier there was no GST on plain bread. But there were different rates on products like pizza bread, roti, paratha. Now the GST Council has decided to make all Indian breads uniform.

Why GST rates increased on carbonated drinks along with fruit drinks or fruit juices?

Earlier, compensation cess was levied on carbonated drinks along with fruit juices along with GST. Now the council has decided to remove this cess. But to ensure that there is no reduction in the total tax, the GST rate has been increased.

What will be the GST rate for admission to other leagues except IPL?

If the ticket price of recognized leagues is less than Rs 500, then there will be no GST on it. If the ticket rates are more than Rs 500, then GST will be levied on it at the rate of 28%.

PC:NDTVIndia