Finally, sanitary napkins to be exempt from GST

Finally, sanitary napkins to be exempt from GST

For the small traders and business, there were many simplifications in compliance to reduce the burden.

Slamming the centre for putting sanitary pads under tax regime, DCW chief Swati Maliwal said that the Centre had displayed its arrogant side after it failed to exempt sanitary pads from GST for over a year.

Many handicraft items such as stone, marble and wooden deities, rakhis without precious stones, brooms and commemorative coins have been made fully exempt from GST, Union Finance Minister Piyush Goyal said.

Ahead of the Rakshabandhan festival, which celebrates the brother-sister bond, Rakhis have also been exempted from GST.

Footwear costing up to Rs 1,000 will now attract 5 percent GST.

The hotel industry has been given major relief by providing that the rate of tax on accommodation service will be based on transaction value instead of declared tariff.

► GST on washing machine reduced from 28% to 18%.

The rate cut applies to footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum cleaners, food appliances and ethanol, among others.

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"Today's meeting has taken a number of decisions unanimously".

Mr Goyal said, simplification in tax is a government priority.

The council also approved the proposal to allow quarterly return filing for taxpayers with a turnover of upto Rs 5 crore, a move that will benefit almost 93 percent of tax assessees as they would now be required to file returns only once in three months. Mr Goyal said, return forms will be simplified into two formats - Sugaam and Sahaj. Speaking to reporters on the sidelines of the 28th GST Council meeting, the minister also said that tax on bamboo has been slashed to 12 per cent. The reverse charge mechanism was already on hold until September 30 this year.

E-commerce platforms and traders dealing in goods that are liable for GST will have to register for GST. However, the receiver of the good/service is eligible for input tax credit, while the unregistered dealer is not.

Currently, the registered buyers from small taxpayers having turnover up to 1.5 crores are eligible to avail ITC on a monthly basis. This was the first Council meeting he chaired after taking charge of the Finance Ministry.

It has now been pushed till September next year.

The council also reduced taxation on 36 items including a host of daily products along with making the process of filing GST lot simpler.

Clearly a populist move, the government is moving to please consumers nearly a year after the GST rollout to impress the fact that the new regime has brought benefits and also to address the small business and traders constituency which accounts for the maximum jobs in the country by easing the compliance burden.

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