The tax rate on services, including government contracts involving large labour, job work services in relation to imitation jewellery, some food and food products has been reduced from 12 per cent to 5 per cent.
File image of a Streetside vendor. (Image: Getty Images)
New Delhi: Facing severe criticism over the implementation of Goods and Services Tax, the government on Friday announced a slew of measures to ease the concerns of traders, exporters and small business while slashing the rates on 27 items of common consumption, including roti, khakra, namkeens, stationery, man-made yarn — with most of them brought to 5% category.
The tax rate on services, including government contracts involving large labour, job work services in relation to imitation jewellery, some food and food products has been reduced from 12 per cent to 5 per cent.
Tax rate on man made yarn was reduced to 12 per cent from the current 18 per cent, which is expected to provide relief to the textile industry. Moreover, tax rate on unbranded namkeen, unbranded ayurvedic medicine, e-waste, paper waste, rubber waste, plastic waste was reduced to 5 per cent.
Here’s the full list of goods and services that’ll be easier on the pocket henceforth:
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Source: News18