GST Rate: Bottled water, bicycles and notebooks to be affordable, cosmetics, luxury wrist watches to be expensive

New Delhi| Bottled water, bicycles and notebooks may become cheaper in the coming days. The GoM, a group of central government ministers, has recommended reducing the GST rate of these items. At the same time, it has been asked to increase the GST rate on cosmetics, luxury wrist watches and shoes. The members attending the GOM meeting held on Saturday have given this suggestion to the GST Council. The GST Council headed by the Union Finance Minister will take the final decision in this regard in the meeting to be held next month.

The GoM proposed to increase the GST rate on 20 liters and more bottled water from 18 per cent to five per cent. Whereas the GST rate on bicycles priced below 10 thousand has also been recommended to be increased from 12 per cent to five per cent. Apart from this, it has also been suggested to increase GST from 12 percent to five percent on practice notebooks. If the GST Council approves this proposal, the prices of these things will come down.

Subsequently, the Group of Ministers has suggested increasing the GST rate on shoes with a value of more than Rs 15 thousand per pair and wrist watches with a value of more than Rs 25 thousand from 18 per cent to 28 per cent. Apart from this, it was also suggested to increase GST on cosmetics, hair dryers, hair colors.

Bihar Deputy CM Samrat Chaudhary, who was included in the GOM, said that the Group of Ministers is taking the initiative to provide relief to every section of the people. Special attention has been given to senior citizens. The final decision on these recommendations will be taken by the GST Council. He also said that the panel will meet once again before submitting the report to the GST Council. The panel includes ministers from Uttar Pradesh, Rajasthan, West Bengal, Karnataka, Kerala, Andhra Pradesh, Goa, Gujarat, Meghalaya, Punjab, Tamil Nadu and Telangana. The panel has to submit its report to the GST Council by the end of October.

The six-member Group of Ministers (GoM) formed on GST includes Uttar Pradesh Finance Minister Suresh Kumar Khanna, Rajasthan Health Services Minister Gajendra Singh, Karnataka Revenue Minister Krishna Byre Gowda, West Bengal Finance Minister Chandrima Bhattacharya and Kerala Finance Minister KN Balgopal. Are included.

At present there are four slabs of GST. These include five percent, 12 percent, 18 percent and 28 percent. Especially items related to daily and essential uses are kept at five percent rate. While luxury items are included in the slab with the highest rate of 28 per cent.