TV, AC, Power Bank And Movie Ticket Becomes Cheaper

New Delhi, Dec 22: In a crucial meeting on Saturday, the GST Council reduced the rates of six items including TV and AC at a hike of 28 percent to 18 percent, but failed to take a decision on cutting the rates of cement, which remained in the 28 percent slab.

    Items such as TV monitor up to 32 inches, Power bank of lithium iron batteries, ACs, Video games and Small sport related items will now become cheaper as they have been removed from the 28 percent slab.

     Cinema tickets of up to Rs 100 have been brought down to 12 percent from 18 percent and tickets above Rs 100 have been brought down to 18 percent from 28 percent.

      In all, six items have been brought down from 28 percent slab to lower tax slabs while 33 items have been brought down to 12 percent and 5 percent from the 18 percent slab, whereas other products like automobiles, molasses, dishwashers too were left unchanged. Bank services to basic savings account exempted from GST. Only 34 items will be taxed at 18 percent. The rate redaction to come into effect from Jan 1.