InvestorQ : What were the major changes announced in the rates of goods and services tax (GST) in the GST Council Meet?
indhumathi Sayani made post

What were the major changes announced in the rates of goods and services tax (GST) in the GST Council Meet?

Answer
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shrinidhi Rajan answered.
12 months ago


Though non-GST aspects dominated the day, there was also some effort on the GST front too. The Council cut rates of GST on semi-cut gems and also on contract labour for diamond industry. In addition, the GST Council also gave a boost to the hotels segment by cutting GST across tariff segments; exempting hotels with tariffs below Rs.1000 from GST. For the hotel rooms with tariffs in the range of Rs.1000 to Rs.7500, the GST will be charged at 12% while for rooms above Rs.7500, the GST will be charged at 18%. In addition, the GST on outdoor catering is cut to 5% to give a boost to the hospitality business. One can always argue that the GST Council did not cut the rates of tax on automobiles or on biscuits but there will always be future occasions.