GoM proposes to slash GST on water bottles, bicycles; raise rate on shoes, watches

Saturday, 19 October 2024
The Group of Ministers (GoM) on GST rate rationalisation proposed reducing GST on packaged drinking water bottles, bicycles, and exercise notebooks to 5%. They suggested raising GST on high-end shoes and wrist watches to 28%. These changes could generate additional revenue of Rs 22,000 crore, aiming to balance revenue while offering relief on essential items.

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GoM Proposes To Raise GST 0n Luxury Shoes, Watches, Aims Revenue Boost By Rs 22,000 cr

The GoM members also decided to lower tax rates on 20-litre packaged drinking water bottles and bicycles to 5 per cent from 18 per cent.
Zee News on October 20, 2024

GoM proposes to slash GST on water bottles, bicycles; raise rate on shoes, watches

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GoM Proposes To Raise GST 0n Luxury Shoes, Watches, Aims Revenue Boost By Rs 22,000 cr