Finance Minister Nirmala Sitharaman chaired the 49th meeting of the GST Council at the Vigyan Bhawan in 2023.
The council announced to reduce the GST on sharpeners has been changed to 12%. The GST rate for manual pencil sharpeners was 18%. The HSN code of sharpeners is 8214.10.00.
However, electric sharpeners will continue to attract a GST rate of 28% as any details have not been shared about them.
Pencils with HSN code 9609 attract a rate of 12% and erasers attract a rate of 5%.
The Finance Minister announced that Rs 16,982 crore balance to states will be cleared.
The council also reduced rates for liquid jaggery called ‘rab’ from 18% to 5% or nil. Rab is typically found in Uttar Pradesh and other jaggery-producing states. The rate of 5% is applicable if ‘rab’ if it is packed and labelled while loose ‘rab’ will not levy in GST.
The GST on tags, tracking devices or data loggers used to track durable containers have been reduced from 18% to nil, in certain cases.
The GST council has made the changes in an attempt to ‘rationalize rates’ as reported by Taxscan.
GST stands for ‘Goods and Service Tax' applicable to all goods and services sold in India. GST came into effect on July 1, 2017. The 48th meeting by the GST council was on December 17, 2022, via a video conference.
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